TRAI came out with its recommendations on wireless spectrum allocation and mergers and acquisition in the Indian telecom market. My comments appear in Italics. TRAI suggested, No cap on the number of service providers operating in any circle [HFCL, Spice, By Cell, Parsvnath, etc may all get to enter the Indian Telecom space]Continue Reading
Malaysia’s largest Mobile Phone Operator, Maxis’ Indian subsidiary, Aircel will receive an investment of $450 Million, 50% more than previous year’s $300 Million. Maxis acknowledges its solid quarterly performance because of its Indian Operations. Aircel is planning to expand in the remaining 14 GSM circles where it has obtained permissionContinue Reading
Just last month I had written about HFCL and its business of ripping investors. HFCL has finally made NEA the Bakra. New Enterprise Associates, the desperate PE fund from the valley has bought 40% stake in HFCL Infotel for a whopping Rs 375 crore. This deal values the loss making HFCL Infotel at Rs 950 crore [~Continue Reading
Its official now, one of my trusted sources working for a brokerage firm in Mumbai called a while ago to inform that, HTIL will divest its 67% stake in Hutch Essar by an auction. HTIL has set a reserve price of $14 Billion to discourage non-serious bidders – Hindujas / Maxis ?Continue Reading
Emerging Asian Telecom Giant, Bharti Airtel Ltd has received permission from the Sri Lankan Telecom Regulatory Commission to provide 2G and 3G cellular services in Sri Lanka. Airtel was directly competing with Reliance Communications and Maxis Telecom to become the 5th GSM operator in Sri Lanka. In Sept-2006, Airtel bagged cellular license to provide servicesContinue Reading
The valuations for Hutch Essar have been highly unreasonable. Here is a list of developments. Maxis backed by Texas pacific Group bid at $13.5 Billion Relicance Communications Ltd backed by several financial institutions and VCs bids at $12 Billion for 100% stake. Subsequently raises the bid to $15- $17 Billion RumorsContinue Reading
Vodafone group Plc has called for a board meeting later today [Thursday] to seek approval to bid for Hutchison Essar Ltd. Vodafone led by Sarin is seeking board approval for $13.5 Billion Plus bid. Earlier Maxis’ bid of $13.5 billion was tuned down. Vodafone already holds 10% stake in India’sContinue Reading
ET has reported that Anil Ambani is in talks with Kohlberg Kravis Roberts & Co (KKR) to make a joint bid for Hutchison Essar. Details unavailable. HTIL has rejeced a $13.5 billion joint bid by Texas Pacific and Maxis Telecom. Wait a minute, $13.5 Billion + Debt ? That’s insane valuations forContinue Reading
Wall Street Journal writer, Henny Sender writes that Hucth Essar could be for sale at a price tag of $8 Billion or possibly more plus the debt. We all know that Hutch and Essar are corporate partners at fight. Just two days ago, Mr. Raza from Hutch tipped me that their Deputy MD, Mr. DasContinue Reading
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