Vodafone investors have been recommending an exit from India.
By Sadhana Chathurvedula
It has so far raised $5.35 million in venture capital funding
Vodafone Group Plc is nearing an initial agreement to merge its Indian operations with Idea Cellular Ltd, in a deal that would create the largest telecom company in one of the world’s most competitive markets, people with knowledge of the matter said. The two firms plan to announce a preliminary… Read more »
Reliance Jio Infocomm Ltd’s aggressive launch last year should certainly lead to consolidation among telecom companies. Two big disruptive technologies—bots and cloud computing—meanwhile pose an existential dilemma for India’s $150 billion outsourcing industry. 2017 should see a more aggressive push by domestic information technology (IT) firms in monetizing platforms, investments… Read more »
Much of the work required ahead of the launch is complete and, over the past week, Reliance Jio has been terminating contracts with people hired to work on specific projects.
Spectrum trading liberalization has finally spurred consolidation in India’s telecom sector, where as many as 11 operators are competing, driving down prices and profits, even as the high cost of spectrum is adding pressure on already stressed balance sheets.
Reliance Jio Infocomm Ltd (R-Jio), the telecom venture of Mukesh Ambani, has signed agreements with his brother Anil Ambani’s Reliance Communications Ltd (R-Com) to trade and share spectrum. The two companies said they had signed agreements “for change in spectrum allotment in 800 MHz band across 9 circles from RCom… Read more »
The date holds significance as it falls a day before the birth anniversary of group founder Dhirubhai Ambani. The launch will be restricted to the group’s 80,000-odd employees and close partners, who are likely to get up to five connections each, translating to as many as four lakh customers. The launch of commercial services is still a few months away.
Reliance Communications Ltd (R-Com) is acquiring Sistema Shyam Teleservices Ltd’s wireless business for equity worth Rs.2,100 crore. It has also committed to paying Sistema’s liabilities to the government, the present value of which is Rs.2,400 crore. These look like extremely high valuations for Sistema’s loss-making operations, and the deal will… Read more »