Following the cancellation, Sivasankaran was reported to have written to then Prime Minister Manmohan Singh, demanding a refund of the company’s investments.
"Shashi has decided to move on to pursue opportunities outside of Airtel. We wish Shashi the very best for his future endeavours," the company said in a statement.
As judge OP Saini acquitted all the accused, former telecom minister A Raja was seen hugging his lawyer while DMK’s Kanimozhi was jubilant.
Amid the surge in demand for higher revenue-generating data services, financially stressed telcos are dedicating more resources, including voice bandwidth, toward mobile internet or combining that with voice.
Aircel lenders are currently reviewing plans to restructure the company’s Rs 15,500 crore debt. The company has so far serviced debt worth Rs 13,000 crore.
He will take over CFO position from Thomas Reisten, who has been Vodafone India’s CFO for past four years. Reisten is expected to get another senior posting within the parent group.
Meanwhile, in the content space, Bharti Airtel, Vodafone India and Idea Cellular are aggregating third party content, while newcomer Jio is largely betting on its own digital media offerings.
Morgan Stanley said consolidation would quicken in the next one year, leading to higher ARPUs for existing players.
Ericsson had earlier told the tribunal that RCom had not paid its dues for past two years and only a few postdated cheques had been given.
The international roaming segment has grown at a compounded annual growth rate of 15% in the last two years and is expected to grow another 15% in two years.
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