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Turkcell, a leading Turkish telecom company and Europe’s third-largest operator by subscribers, is in talks to buy 51% stake in Datacom Solutions. The deal is expected to put the enterprise value of the company at nearly $2.2 billion. Sources said the Turkish company wants the Indian promoters—Dhoots of Videocon and Mahendra Nahata, chairman of Himachal Futuristic Communications (HFCL) group—to resolve their differences before signing the deal. “Turkcell will buy into Datacom only after the promoters resolve their differences. Dhoots will have to buy out Mr Nahata, and Turkcell will then enter the company,” the sources said. If the proposed structure goes through, Dhoots will continue to hold 49% stake in the company while the foreign telco will have 51%. Under the arrangement between the promoters of Datacom, the Dhoots have the right of first refusal in case Mr Nahata decides to sell his 36% stake in the company. The two sides have differences over management of the company, which received pan-India telecom licence last year. Datacom has spectrum in 13 out of the 22 circles of India. […]
Norway-based telecom company, Telenor has brought a majority of 60% stake in Unitech Wireless. Telenor is the largest telecom company of Norway having existence in 12 nations with subscriber strength of over 150 million. The Norway government holds 54 per cent stakes in Telenor. Unitech wireless is a subsidiary of major reality giant, Unitech. The deal worth Rs 6,120 crore has paved a way for Telenor to enter in the Indian telecom industry. The company is already present in Ukraine, Russia, Hungary, Serbia, Montenegro, Pakistan, Malaysia, Bangladesh and Thailand. Telenor sought help from Goldman Sachs on the transaction issues while Unitech was guided by UBS AG and Mumbai-based IDFC-SSKI Group. Unitech was awarded mobile telecom licences for Rs 1,651 crore to operate in 13 telecom circles earlier this year. It is likely to start services in the middle of 2009. […]
Pune-headquartered DS Kulkarni Developers has notified that the board of directors of the company at its meeting has decided to pick 51% stake in DSK Global Education & Research. With the acquisition of shares, DSK Global Education & Research will become a subsidiary of the company. D.S. Kulkarni Developers Limited engages in the civil construction and real estate development primarily in India. It operates principally in Pune and Mumbai cities of Maharashtra state.(Top News) […]
Indian real estate developer Unitech Ltd is in talks with foreign operators to sell 26-45 percent stake in its nascent telecoms unit, and expects to make an announcement next week, a top official said on Friday. “We are confident that we will be able to shortly close the transaction,” Managing Director Sanjay Chandra he told reporters on the sidelines of a conference. He declined to identify the likely partner, how much it hoped to raise from the sale or confirm market talk that Norwegian telecom group Telenor was a suitor. […]
Nusli Wadia Group is set to buy Groupe Danone`s 50% stake in biscuit major Britannia Industries with a committed USD 200 million funding from ICICI Bank, reports Economic Times. The group will buy Danone`s 50% equity in the UK incorporated holding company, Associated Biscuits International Holding (ABIH), backed by a five-year loan. The deal will end two-year-old acrimonious shareholder dispute between Wadias and Danone, with the French food giant walking out of a decade-long joint venture to chart independent course in India. ABIH will remain as Britannia`s holding entity after the transaction. ABIH holds 50.9% stake in India`s leading biscuit company by value. […]
Israeli holding company Koor Industries on Sunday denied it was in talks to sell a large stake of generic agrochemicals maker MA Industries for more than $1 billion. On Saturday, India's Business Standard newspaper reported that United Phosphorus Ltd (UPL), India's largest pesticide maker, was in talks to buy about 39 percent of MA for some $1.1 billion from Koor, which owns 40 percent of MA. The report sent shares of MA up more than 9 percent by early afternoon trading in Tel Aviv. “We are denying it. It is not true at all,” said a Koor spokeswoman in Tel Aviv, without elaborating further. […]
FMCG major Emami Ltd today acquired the entire Parikh family stake of 18.18 per cent in Zandu Pharmaceuticals for an estimated Rs243 crore. Emami also acquired an additional 37,417 shares of Zandu for about Rs5.4 crore in open market transactions, taking its total holding in the Mumbai-based company to 50 per cent. Under the deal, which ended months of hostility, Emami paid Rs15,000 per share and an additional non-compete fee of Rs1,500 per share for acquiring the 1,46,643 shares that the Parekh family held in Zandu. Emami can now offer to acquire another 20 per cent in Zandu, taking its holding further to 70 per cent. The acquisition makes Emami the largest shareholder of Zandu and the transaction effectively paves the way for Emami's acquisition of Zandu. […]
Japan's DoCoMo is reportedly the front runner in a bid to buy 26 per cent of India’s sixth largest mobile operator, Tata Teleservices (TTLS). The deal, worth US$2.5 billion, would value Tata Teleservices and its 29 million subscriber base at US$9.61 billion, or roughly $331 per subscriber, according to the livemint website. Other foreign players who had previously expressed an interest in TTLS include France Telecom, UAE’s Etisalat, Mexican operator, TelCel and Russia’s Altimo. TTLS operates a pan-India CDMA network and was recently granted a pan-India GSM license by the regulator. TTLS is the smallest of the country’s major operators, behind Bharti, Reliance, Vodafone Essar, BSNL and Idea. It posted a fiscal year loss of US$1.87 billion for the period ended March 2008, including US$1.5 billion in losses carried forward from 2007. […]
Business Standard is reporting that the Cabinet Committee on Economic Affairs (CCEA) has approved Idea Cellular’s subsidiary Aditya Birla Telecom’s (ABTL’s) proposal to sell a 20% stake to P5 Asia Holdings Investments (Mauritius), a member of private equity firm Providence Equity Partners. The purchase will cost INR27.04 billion (USD545 million), and will bring the total foreign direct investment (FDI) in the company to 74%. The CCEA has also approved plans that will see Idea transfer its 16% stake in Indus Towers to ABTL; Indus is a joint venture mobile tower company with Bharti Airtel and Vodafone Essar which owns 70,000 base transceiver stations. […]
Norway-headquartered global telecom major Telenor is close to buying a substantial stake in Unitech Wireless, the telecom arm of the realty major Unitech, for about $1.5 billion. In case the deal goes through, for Unitech it would be Telenor over Telecom Italia. On the other hand, for Telenor, this deal would mean preferring Unitech Wireless over Datacom Solutions, the telecom company jointly owned by Videocon and Vinay Maloo (formerly of HFCL group) which is fast losing its early-mover advantages because of disputes between the two shareholders, sources said. […]
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