The telecom department has floated a cabinet note on proposed foreign fund infusion plans by India''s largest telecom operator Vodafone Idea Ltd, which is planning up to Rs 25,000 crore rights issue, according to a source. A telecom department official privy to the development said that the proposal is likely to be taken up by the Cabinet soon.
The official noted that a cabinet note has already been circulated on the FDI proposal linked to the proposed rights issue of the company.
CUTS International, a global policy research and advocacy group, organised a roundtable discussion on Evolving Role of Online Intermediaries: Retaining Trust, Re-imagining Safety, in association with CUTS Institute for Regulation and Competition on Tuesday.
The discussion covered key aspects of the proposed amendments to the intermediaries guidelines and their likely impact on consumer trust in online economy.
Telecom regulator Trai has served a showcause notice to Airtel over the blackout faced by some of its DTH customers during the switch over to the new tariff regime, sources said. The showcause notice was issued by Telecom Regulatory Authority of India (Trai) earlier this week, and Airtel has been given three days time to respond, they told.
When contacted, an Airtel spokesperson said a few customers may have experienced delays in provisioning of channels, owing to a massive surge in last minute requests during migration,
Reliance Industries (RIL) has lined up over Rs 10,000 crore of fresh investments in West Bengal for expanding telecom arm Jio’s 4G operations in the state, chairman Mukesh Ambani said.
“RIL has already invested Rs 28,000 crore in West Bengal, which is one tenth of the company’s total investments across India, and (telecom arm) Jio will invest a further Rs10,000 crore-plus to make the state a land of digital revolution” Ambani said at the fifth Bengal Global Business Summit in Kolkata on Thursday.
OnMobile Global Limited, a global leader in mobile entertainment, today announced the renewal of its contract with Telefónica España, S.A.U. (Telefonica) for another five years.
Telefónica is one of OnMobile’s largest customers. OnMobile has been providing videos, editorials, games and tones and a host of similar services to Telefonica’s subscribers since 2012.
The long-term contract renewal ensures continued revenue growth and is a testimony to the deep and trusted relationship that OnMobile has with Telefónica.
Vodafone Idea Ltd., India’s leading telecom service provider, today announced the successful consolidation of nearly 25% of its pan-India radio network integration within a short span of just five months.
With this integration of network, customers of both Vodafone and Idea brands are able to enjoy a unified network experience on 2G, 3G & 4G, in the service areas of West Bengal, Haryana, HP, Assam, North East, AP & Telangana (excl. Hyderabad), J&K and MP & Chhattisgarh.
Telecom network equipment maker Nokia forecast stronger-than-expected 2019 and 2020 results thanks to fast-rising investments in 5G networks, after beating fourth-quarter sales and profit estimates on Thursday.
"Over the longer-term, we expect a virtuous cycle of investment, where operators update their networks across multiple domains," Nokia's chief executive Rajeev Suri said in a statement.
The networks industry - dominated by Nokia, Sweden's Ericsson and China's Huawei - has been battered by years of slowing demand since 4G network sales peaked in the middle of the decade.
ritish telecom major Vodafone Inc top officer Nick Read is learnt to have met Department of Telecom Secretary Aruna Sundararajan on Monday to seek relief in spectrum payments of its Indian arm Vodafone Idea.
"The meeting between telecom secretary and Read was held on Monday to discuss relaxation in spectrum payment for Vodafone Idea," a source privy to the development said.
Vodafone Idea, along with Bharti Airtel, has requested the government to defer spectrum payment instalments with a two-year moratorium given the losses that these players are facing.
Swedish telecom component maker Ericsson saw its network gear sales rise by 16 per cent on a sequential basis in October-December 2018 globally. However, its seasonal sales trend was adversely impacted by India performance.
"Sales (network) increased by 16 per cent quarter on quarter and sales adjusted for comparable units and currency also increased by 16 per cent. The sequential sales growth was slightly lower than normal seasonality mainly due to lower sales in India.
Telecom tower firm Bharti Infratel Thursday said it has reached a settlement with four operators, including Vodafone Idea, that exited from its cell sites before the expiry of their contracts at a payment of around Rs 3,800 crore. The payments include one-time charge of Rs 2,000 crore and rental of around Rs 1,800 crore.
Bharti Infratel Chairman Akhil Gupta during the company''s earnings call said that all the charges with Airtel, Tata, Telenor, Vodafone Idea have been settled for all exits that were received up to November 30, 2018.
Tower companies Bharti Infratel and Indus Towers have sought exit charges following Vodafone-Idea merger that led to two tenancies on a single tower being converted into one, and negotiations are on in this regard, the newly merged telecom firm said Wednesday. Prior to the mega merger, both entities - Vodafone and Idea - had tenancies on the same tower of various infrastructure service providers, including Indus Towers and Bharti Infratel.
On Wednesday, Debt-laden Indian telecom company Reliance Communications Ltd (RCom) reported a wider loss for the third quarter, hurt by higher expenses.
Net loss came in at 2.38 billion rupees ($33.38 million) for the October-December quarter, compared to a loss of 1.30 billion rupees in the year-ago period.
Revenue from operations fell about 6.5 percent to 10.70 billion rupees.
Vodafone Idea board has approved fund-raising to the tune of Rs 25,000 crore through a rights issue, the telecom firm said on Wednesday.
Promoters of the company, including Vodafone Group and Aditya Birla Group, intended to contribute up to Rs 11,000 crore and Rs 7,250 crore, respectively, as part of such rights issue.
“Further, the promoter shareholders have indicated that in case the rights issue is undersubscribed, each of the promoter shareholders reserves the right to subscribe to part or whole amount of the unsubscribed portion, subject to applicable law,” the company said in a release.
The National Company Law Appellate Tribunal (NCLAT) Tuesday deferred the hearing on a contempt petition against Anil Ambani filed by minority shareholders of one of his firms till February 25. A two-member bench headed by Justice S J Mukhopadhaya said that it would hear on February 25 the contempt plea filed by HSBC Daisy Investments (Mauritius) and other minority shareholders over an alleged default in payment against Reliance Infratel and its promoters.
Telecom operator Vodafone Idea has sought two-years moratorium on annual spectrum payment of about Rs 10,000 crore, citing high debt levels and stress on the balance sheet.
"The Department of Telecom has received representation from Vodafone Idea for 2-years additional moratorium on spectrum payment that they procured in auction. The request is being examined and it has to be scrutinised and considered by other departments/ministries in the government before taking any decision," a senior government official told PTI.
The Delhi bench of the National Company Law Tribunal(NCLT) has approved Bharti Airtel’s acquisition of Tata Teleservices’ consumer mobility business, a deal that will enable the Sunil Mittal-led telco to close the market share gap with leader Vodafone Idea besides bolstering its 4G airwares portfolio to take on Reliance Jio Infocomm more effectively.
“The NCLT’s Delhi principal bench, vide its order dated January 17, has sanctioned the composite scheme of arrangement between Tata Teleservices, Bharti Airtel and Bharti Hexacom and their respective shareholders and creditors
Hardcopies of BSNL bills are no more required for payment at post offices for BSNL Chennai subscribers with the state-owned telecom service provider has done away with the process. Now, customers in BSNL Chennai Circle can pay their bills by just showing the SMS or emailed bill copies.
BSNL Chennai Circle covers Chennai, Kancheepuram and Tiruvallur districts.
A press release from BSNL Chennai Circle said customers could pay their landline and mobile bills at all post offices anywhere in Tamil Nadu, just by showing the SMS or image copy of their bill.
State-run telecom operator BSNL on Friday said that it has launched its fiber to the home service, Bharat Fiber, in the country, and will offer 35GB per day at as low as Rs 1.1per GB to take on Reliance Jio and Bharti Airtel.
Vivek Banzal, director of CFA, BSNL board said "We realize that now customers are demanding super fast internet and have started owning more electronic gadgets and entertainment tools than ever before. So our Fiber to the Home technology has been upgraded and we are happy to announce the launch of Bharat Fiber
Chinese handset maker Vivo has come up with an exchange program in India ‘Vivo Xchange’ as part of which the company will allow people to exchange their old phones and upgrade to a new Vivo smartphone on Vivo’s in-house e-store.
For this, the company has partnered with online re-commerce brand Cashify.in. The upgrade program will let both existing Vivo customers and other smartphone users looking to buy a new Vivo smartphone to participate in the program.
Moreover, Vivo is offering an additional Rs 1000 bump-up in exchange of old Vivo smartphones from January 16-19.
Domestic telecom gear maker HFCL Thursday said it has bagged two orders of worth around Rs 502 crore for supply of optical fibre cable from Larsen & Toubro (L&T) and a consortium led by ITI. Himachal Futuristic Communications Limited (HFCL) said it is investing Rs 388 crore to ramp up production capacity of optical fibre cable and optical fibres to meet the market demand.
"Himachal Futuristic Communications Limited (HFCL) is pleased to announce that it has won orders of Rs 502.73 crore for supply of optical fibre cables (OFC)