Mobile operator Idea Cellular, currently in merger talks with Vodafone India said it plans to raise Rs 1,000 crore through issuance of non-convertible debentures on private placement basis.
The proposed merger of telecom operators Vodafone and Idea Cellular will create an entity with revenue of around Rs 80,000 crore and the move will be credit positive for the sector, India Ratings and Research said.
Special Public Prosecutor Anand Grover on Wednesday withdrew his plea from the Supreme Court after a special Central Bureau of Investigation (CBI) Court discharged the Maran brothers in the Aircel-Maxis case.
The proposed merger between Vodafone and Idea Cellular is a credit positive for the telecom sector and will push the combined entity's margins up by around 3 percentage points on cost synergies, India Ratings said.
The board of telecom major Bharti Airtel approved rejig of its overseas arms that will now operate under its wholly-owned Mauritius-based subsidiary Network i2i Ltd.
Chinese handset maker Xiaomi said it plans to ramp up its offline distribution channel in the country and is targeting around 25 per cent of its turnover from this segment.
There are many places, villages and even towns which are yet to be exposed to the cellular technology. I therefore, urge you (PM) to personally examine the matter and take the strictest action possible, to prevent further delays in execution of this crucial project," Ninong Ering, the Congress Lok Sabha MP from Arunachal East said.
Apple has finally halted the dream run of Xiaomi in China, the largest smartphone market in the world, edging the Chinese phone giant from the fourth slot by shipping nearly 45 million iPhones to the Communist nation, a report by market research firm IDC said.