Govt. may suspend Bharati Telemedia’s DTH license owing to FDI norm violation. the letter of suspension of Bharti’s DTH licence has been moved within the I&B ministry and Bharti Telemedia has to go to the Foreign Investment Promotion Board (FIPB) as it has a significant percentage of foreign investments in the company through one of the promoting companies
Bharti Telemedia has two investing companies — Bharti Airtel (40% stake) and Bharti Enterprises (60%). Bharti Airtel, in turn has a foreign holding of 21.64 % (BS) – the allowed FDI in DTH is <20%.
Etisalat pulls out of Tata Teleservices stake talks
Etisalat, Emirates based Telecom service provider has pulled out of talks to acquire 9.7% stake in Tata Teleservices (C Sivasankaran’s stakes). – source
BSNL to invest Rs. 530 crore in rural infrastructure
BSNL is planning to invest Rs. 530 crore in the next 1 year to strengthen its rural telecom infrastructure in West Bengal. BSNL is also planning wimax and local language SMS.[source]
Much talked RCom-MTN deal is off (Mukesh Ambani iinitiated arbitration proceedings against RCom), chances are that Bharati Airtel might restart the merger dialog. Lets wait for the dance show to begin.
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