Update: In response to an emailed query from MediaNama, HH Haight, President and CEO of Argo Capital, and Chairman on Onmobile's board, has said that "Argo Capital is not selling any OnMobile shares." Argo Capital is the majority shareholder in OnMobile. MediaNama had heard from reliable sources that Argo Capital was looking to sell its shares, but OnMobile had denied that to Mint. Now Argo Capital had denied it too. Updates (6th August 2012): - Onmobile has issued the following clarification to MediaNama on its Tanzania operations: "Our operations in Tanzania have not been affected by any stricture by the concerned Telecom Regulatory Authority and we continue to serve our customers there. Based on the advice from reputed counsel, we are of the view that white-labelled VAS players, who are not dealing directly with the end subscribers, do not need an operating license. The onus is on the operator. We are in touch with the regulator and if they believe that we need a license, we will comply with the same." - Onmobile's former MD and CEO Arvind Rao has sold 18 lakh shares of the company at Rs 40.68 apiece, the total transaction valued at Rs 7.32 crore, according to bulk data available with the stock exchanges, reports the Economic Times Earlier (31st July 2012): OnMobile Global has assigned the Mumbai-based investment bank Avendus Capital to assess its value for a possible sellout, reports Livemint. The report claims that several Indian corporations are vying for the company and that at…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...