Experts say Reliance Jio will face stiff challenges as it enters the 5G club and offers its product to operators globally, with rivals Huawei, Nokia and Ericsson ahead in developing the technology and in filing patents. ET's Devina Sengupta has more. Watch now. (Text: ET Bureau)
The government has begun consultations at the highest level to decide on the use of 5G technology, which is seen as a precursor to a possible bar on the use of equipment from Chinese companies, such as those sold by Huawei, when India rolls out the high-speed network.
The Carlyle Group will acquire about 25 per cent stake in Airtel's data centre business, Nxtra Data, for USD 235 million (about Rs 1,780 crore), the company said in a statement on Wednesday. This will peg the enterprise valuation of Nxtra at USD 1.2 billion which is over Rs 9,084 crore. On completion of the deal, Carlyle will hold about 25 per cent stake in the business with Airtel continuing to hold the remaining stake of about 75 per cent.
The Centre on Thursday informed the Supreme Court that the Department of Telecommunications (DoT) has decided to withdraw 96 per cent of the Rs 4 lakh crore demand for AGR related dues raised against non-telecom PSUs like GAIL. The top court also said that private telecom companies including Bharti Airtel, Vodafone Idea must come out with a “reasonable payment plan” and asked them to file their books of accounts for the last 10 years.
Jio Platforms is set to raise Rs 11,367 crore by selling another 2.32% to Saudi Arabia's sovereign wealth fund Public Investment Fund (PIF). This will be the tenth investor picking up a stake in the Reliance Industries’ (RIL) telecom and digital business in eight weeks. The investments peg Jio Platforms’ equity value at Rs 4.91 lakh crore and enterprise value at Rs 5.16 lakh crore. With the latest investments, parent Reliance Industries stands to get Rs 115,693.95 crore from the 10 investors in exchange for 24.70 % stake, the group said in a statement Thursday.
Telecom ministry reworks tender for BSNL network upgradation. Chinese companies will not be allowed to participate. Department of Telecom has firmly decided to tell BSNL not to use Chinese equipments in the upgradation of it’s 4G faculties which is the part of its revival package. Sources in the government said the ministry has decided to "firmly tell BSNL" not to use Chinese equipment in view of security issues.
The Supreme Court Thursday expressed grave concerns over the Department of Telecommunications' move to slap spectrum dues worth over Rs 4 lakh cr from PSUs as adjusted gross revenue (AGR)-based dues on par with private sector telco's dues. It was also sceptical about the government's plans for staggering recovery of another Rs 1.69 lakh crore spread across 20 years from the private telcos. ET's Devina Sengupta has more. (Text: ET Bureau)
The Supreme Court on Thursday adjourned the hearing on the adjusted gross revenue (AGR) issue till June 18. The apex court asked telecom operators, including Vodafone Idea, to file affidavits in five days regarding the roadmap they are proposing to clear the dues.
Amazon is in early-stage talks to buy a stake worth at least $2 billion in Bharti Airtel, three sources with knowledge of the matter said, underscoring the growing attraction of India's digital economy for US tech giants. The planned investment, if completed, would mean Amazon acquiring a roughly 5% stake based on the current market value of Airtel, India's third-largest telco with more than 300 million subscribers.
US-based private equity firm Vista Equity Partners will buy a 2.32 per cent stake in billionaire Mukesh Ambani's digital unit, Jio Platforms, for Rs 11,367 crore, the company announced on Friday. "This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore," the company said in a statement.
Union Minister Ravi Shankar Prasad on March 30 informed that prepaid sims of BSNL will not be discontinued till April 20 amid nationwide lockdown and the user will get Rs 10 incentive for uninterrupted services. "Prepaid sims of Bharat Sanchar Nigam Limited (BSNL) will not be discontinued till 20th April. For outgoing calls, a Rs 10 incentive has been provided automatically from today, so that poor people and needy people continue to work," said Prasad after TRAI asked telecom operators to extend validity period of prepaid users to get uninterrupted services during nationwide lockdown.
Legal eagle Harish Salve says that the Supreme Court has to stop the practice of overreaching. It is the government's job to run the country and not the Supreme Court. Tune in for the full exclusive chat on ET NOW with Nayantara Rai. Listen in!!!
Telecom Minister Ravi Shankar Prasad on Wednesday said the Centre is committed towards revival of the beleaguered BSNL but it was not possible to retain all its employees. Prasad also said in Lok Sabha that nearly one lakh employees of the Bharat Sanchar Nigam Limited (BSNL) have opted for the Voluntary Retirement Scheme (VRS).
With the Supreme Court-mandated liability pushing telecom companies to the brink, industry honchos Sunil Bharti Mittal and Kumar Mangalam Birla on Wednesday met Finance Minister Nirmala Sitharaman as their firms scrambled to meet payment deadlines. While the two refused to comment on discussions they had with Sitharaman, Mittal said the telecom sector has been under stress for the last three-and-a-half years and the government should focus on its sustainability. Govt is mulling a telecom fund to give soft loans to telcos. The fund according to sources, will be set up with the AGR dues paid by the telcos to the govt. Here's the full report by ET NOW's Nayantara Rai. Watch.
Vodafone Idea told the Supreme Court on Monday that it can pay only Rs 2500 crore as of AGR dues now to the government and will follow it up with another Rs 1000 crore by February 21, as per reports. The telco appealed to the SC that the telecom department should not take any coercive action and invoke bank guarantees as it would hamper their operations. The development comes after the Supreme Court last week threatened to hold the telecom majors in contempt for not complying with its earlier order to clear the statutory dues of AGR within the deadline.
Bharti Airtel will pay an initial deposit of AGR dues of Rs 10,000 crore by 20 February to the government and will pay the balance amount by the next scheduled date of hearing in SC-March 17. Airtel has statutory dues of over Rs 35,000 crore to pay the government.