After riding with the Tatas for three years, the Richard Branson-promoted Virgin Group has exited from the joint venture company, Virgin Mobile India. Virgin’s partner in the venture, Tata Teleservices (TTSL), has agreed to buy out the 50 per cent stake held by the UK-based company for an undisclosed amount.
Industry analysts feel that the Tatas’ focus in the joint venture had diluted after it entered into an equity partnership with DoCoMo Corporation of Japan, subsequent to which it launched the Tata DoCoMo brand [source].
Mobile cos should source 80% of network equipment from domestic market: TRAI
Telecom Regulatory Authority of India (Trai) has proposed that mobile phone companies be mandated to source 80% of their network equipment and other related infrastructure from domestic manufacturers. This includes the networks produced by the manufacturing units of foreign vendors located in India.
The move is aimed at boosting domestic output in this strategic sector and ensuring that India becomes a manufacturing hub for telecom hardware. [source]
SingTel raises stake in Bharti Airtel to 32.25 pc
Singapore-based SingTel has increased its stake in one of India’s largest telecom companies Bharti Airtel to 32.25 per cent, with the purchase of shares worth about Rs 93 crore.
The freshly acquired shares account for about 0.1 percentage point stake in Bharti Airtel, which is jointly promoted by Singtel and group companies of industrialist Sunil Mittal’s family.[source]
Now, ‘Sholay’ in 3D format
Filmmaker Subhash Ghai will convert Ramesh Sippy’s 1975 classic film ‘Sholay’ in 3D format.
Ghai’s banner Mukta Arts has collaborated with filmmaker Ketan Mehta’s Maya Digital to undertake the project of turning ‘Sholay’ in 3D. “We have a department working with Maya Digital to convert ‘Sholay’ in 3D,” [via]