News Roundup: Karbonn eyes $125-m in PE funding

Mobile handset company Karbonn plans to raise about $125 million in the next few months through private equity (PE) players to fund expansion plans. Karbonn Mobiles is a joint venture between Delhi-based Jaina Group and Bangalore-based UTL Group and has a market share of 5%.

The company is looking at the dilution of up to a 15 per cent stake during the process [source].

Tata Teleservices to merge CDMA & GSM divisions, cut jobs

The telecom unit of theTata Group has decided to combine two businesses that provide mobile services using different technologies, raising fears of job cuts in an industry marked by low tariffs and falling profits.
In a circular issued on Sunday, Tata Teleservices announced in what it described as the “unification” of two divisions offering services based onCDMA and GSM, two rival technologies.[source]

Walt Disney offers to buy out UTV’s rest 49.56% stake for Rs 2,000 cr

Walt Disney Co plans to buy the rest of UTV Software Communications (UTV) it does not own and delist the company in a deal potentially valued at $454 million, or Rs 2,014 crore, as the US entertainment giant seeks to expand its presence in Bollywood, media and gaming. Disney said it would also buy the 20% stake held by promoter Rohinton (Ronnie) Screwvala and his associates if it garnered enough shares to delist the company [source].

Sign Up for nextbigwhat newsletter

Delivered everyday 8 AM. Most comprehensive coverage of the tech ecosystem.

Download, the short news app for busy professionals