Nokia has received the go-ahead from India’s Foreign Investment Promotion Board to invest Rs 0.25 crores into setting up a joint venture with HCL Infosystems. The handset maker will hold 51% in the setup and will raise the money with equity shares/ compulsorily convertible debentures/ compulsorily convertible preference shares. HCL Infocomm is a subsidiary of HCL Infosystems and has been a distribution partner of Nokia’s for a long while now. HCL had established over 150 Nokia Care Centers managed by HCL and franchisee operations three years ago. According to Trading Markets, HCL owns 1 lakh retail outlets today. The joint venture will sell value added services for mobiles. This could be in preparation of Nokia’s launch of Life Tools in June and the applications that will flood Ovi later this year.
Walt Disney Co has also been given permission by FIPB to expand its businesses of home entertainment and printing and publishing. There will be no fresh infusion of FDI for this, which means it will raise money from Indian shareholders. Disney’s books division owns Disney Publishing Worldwide, a subsidiary, Disney Libri in Italy, Hyperion Books for Children, Jump at the Sun, Disney Press, and Disney Editions. Disney had recently launched its comic books in India in association with Diamond Comics, Business Standard reports. It has over 340 titles that reach 80 countries.
Disney DVD, its home entertainment division, is known for CDs of Snow White and the Seven Dwarfs, The Lion King, Aladdin, Cinderella, The Little Mermaid and The Jungle Book. Animations and movies such as these titles are in demand and so it does not come as a surprise that the division is expanding robustly.
Walt Disney Co owns a vast number of companies – news media ABC, sports channel ESPN, websites like Disneyshopping.com and iparenting.com, The History Channel, Jetix, and also operators its cellular service Disney Mobile. Its international TV distribution arm recently inked a multi-year deal with IPTV provider Aksh Optifibre in India.
Mumbai-based Tikona Digital Networks has been given approval to bring in Rs 237.26 crores worth of investment, which it will raise by issuing CCDs and equity shares. The company sold 69.9% equity to Goldman Sachs Investment Partners, Indivision India Partners, Oak India Investments and Green Lotus, VCCircle reported. The company’s website itself tells us nothing of its founders but Telegraph informs that Tikona’s founders Prakash Bajpai and Rajesh Tiwari were President and CEO of Reliance Communications, and Group Director of Reliance-ADAG, respectively.
The investment will be used to start and run an ISP network. Tikona will be a Category-A Internet Service Provider, which means it can offer cable broadband services across the country. It will be targetting enterprise as well as end users and its products include Tikona Wi-Bro, a fourth generation wireless broadband service and “wireless office”.