Vodafone Idea's Balesh Sharma has stepped down from the position of chief executive officer, the company said. Ravinder Takkar, currently Vodafone Group’s representative in India, will be appointed as his successor with immediate effect.
The telecom sector, which has lost over 100,000 employees in the last two years amid financial turmoil and consolidation, is set to turn a net hirer in FY20, with an expected 5% increase in manpower, executives said. They are looking to recruit from companies such as Microsoft, Google, Tata Consultancy Services, HCL Technologies, Ericsson and Nokia to help with network digitisation and preparing for 5G. Devina Sengupta reports. (Text: ET Bureau)
Amid rising competition and debt, the Telecom industry now looks to the new government's budget for much-needed financial reforms. Gulveen Aulakh of The Economic Times lists out key priority areas of the sector from the Budget slated to be tabled in the Parliament on July 5, 2019.
Reliance Communications chairman Anil Ambani confirmed that the telco has repaid Swedish telecom gear maker Ericsson its dues and thanked his brother Mukesh Ambani and his sister-in-law Nita Ambani for the "timely support". "My sincere and heartfelt thanks to my respected elder brother, Mukesh, and Nita, for standing by me during these trying times, and demonstrating the importance of staying true to our strong family values by extending this timely support. I and my family are grateful we have moved beyond the past, and are deeply touched with this gesture," said a company spokesperson in a statement sent to the media.
Reliance Communications (RCom) has completed paying Swedish telecom gear maker Ericsson nearly Rs 580 crore, thereby ensuring the telco’s chairman Anil Ambani does not go to jail. With Monday’s payment of Rs 462 crore, the debt-laden telco ends its 18-month long battle with Ericsson which had claimed dues for its maintenance services. The deadline for RCom to make the payment was March 19, failing which Anil Ambani would have had to serve a jail term of three months.
Just days ahead of the expiry of the Supreme Court deadline to Anil Ambani to pay Ericsson dues, the NCLAT Friday refused to direct State Bank of India to release Rs 259 crore of income tax refund for making such payment, saying it does not has jurisdiction to do that.
The Supreme Court on Monday sought the response from Reliance Communications (RCOM) Chairman Anil Ambani on a contempt plea by telecom company Ericsson for its failure to pay outstanding dues of about Rs 550 crore.
Bharti Airtel board formed a special committee for fund raising options. Board authorised committee to explore fund raising.
The Department of Telecommunications (DoT) would be in a position to hold the next auctions in the second half of 2019, a top government official said, putting to rest all speculation about any airwave sale this fiscal year ending March, 2019.
Giving a conditional breather to Reliance Communication, the Supreme Court has asked the telco to furnish corporate guarantees worth Rs 1,400 crore to the Department of Telecom (DoT) to get an approval for its spectrum sale to Reliance Jio.
The largest telco by subscribers Vodafone Idea said the market is "unsustainable" due to aggressive competition and warned that it's detrimental to government's flagship initiatives like Digital India. Voda-Idea CEO Balesh Sharma said the company is advancing the projected Rs 14,000-crore savings to come in from the synergies arising out of the merger, by two years to FY21. The telco is in stiff competition with Bharti Airtel and Reliance Jio.
The government is considering a relief package for the telecom industry that’s laden with debt and hit by earnings woes amid a two year-long price war, after certain companies sought support, said people with knowledge of the matter.
Telecom regulator Trai Monday launched a consultation to explore the regulatory framework for over-the-top apps like WhatsApp, Facebook and Google Duo that provide calling and messaging services similar to that by operators. The Telecom Regulatory Authority of India (Trai) has sought public opinion on whether same rules should be applied on OTT applications providing calling and instant messaging services as applied on telecom operators. This has been a long-pending demand of telecom operators.
India will be ready for 5G ahead of other nations. Our country has become world largest data consuming network: Mukesh Ambani at IMC2018
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