Tata Teleservices News

As per Airtel's filings with NSE/BSE, the promoter group of Airtel is comprised of Bharti Telecom Limited with a shareholding of 41.24 per cent, Indian Continent Investment Limited - 6.46 per cent, Viridian Limited - 0.21 per cent and Pastel Limited - 14.79 per cent.  

Tata Sons is in the process of transferring the consumer mobile business of Tata Teleservices to Bharti Airtel and hiving off the enterprise segment to merge with the group's networking arm Tata Communications.

Vodafone, which was operated as an independent entity in July, could add over 6 lakh customers.

The shareholders of Idea Cellular have approved merger scheme of its mobile business with Vodafone India.

India`s telecoms market has seen rapid consolidation since the entrance of Reliance Jio Infocomm Ltd sparked a price war.

In February, Airtel absorbed Telenor's operations in seven circles -- Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam in a similar no cash deal.

The merger is being done on a debt-free cash-free basis, except for Bharti Airtel assuming a small portion of the unpaid spectrum liability of Tata`s towards DoT, which is to be paid on deferred basis, the statement added.

One of the reasons is the high levies imposed on the sector. Industry bodies have often in the past bemoaned the fact that the Indian levy on the sector is in the 30 per cent-plus range. 

The combined market valuation of the Kumar Mangalam Birla-led listed companies stood at Rs 3,42,354.87 crore (USD 53.5 billion) at the end of Friday's trade.

Tata Sons will seek the approval of the Competition Commission of India and tax authorities to remit USD 1.18 billion to estranged partner NTT DoCoMo to settle its long-standing dispute.

The lay-offs comes at a time when the telecom industry has been witnessing an intense tariff war triggered by the entry of Reliance Jio.

Tata Sons will split a dispute settlement payment of $1.18 billion owed to NTT DoCoMo over the Japanese firm`s exit from a telecoms joint venture, leaving it with about two-thirds of the amount to invest in India, a source said.

Inter-ministerial panel Telecom Commission on Monday sought clarity from Trai on Rs 3,050-crore penalty that the watchdog recommended on three operators, including Airtel and Vodafone, for allegedly violating interconnect norms and its power to impose fine in such cases.

In yet another blow for Cyrus Mistry, Tata Teleservices on Wednesday "unanimously" removed him as the director and chairman of the company.

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Ousted Tata Sons chairman Cyrus Mistry continued to chair group companies and on Monday he chaired a meeting of the distressed telecom arm of the group, Tata Teleservices, at the Bombay House, the group headquarters here this afternoon.

Telecom operators Vodafone and Tata Teleservices Wednesday made payments of Rs 10,100 crore and Rs 2,300 crore, respectively, to the government for spectrum they bought in the recently-concluded auction.

Government on Monday issued demand notes to seven telecom operators to make payment in 10 days for the spectrum they bought in the just-concluded auction.

Seven telecom service providers have qualified to bid for the upcoming biggest-ever airwaves auction starting from October 1, according to official data released here by the Department of Telecommunications.

In a seemingly tepid build-up to the upcoming spectrum sale, due on October 1, seven mobile operators are said to have deposited earnest money of about Rs 15,000 crore, lower than the previous year's Rs 20,435 crore.