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News Digest: 3G Auction, Assocham, Orkut, MTS, Dish TV & More

Only Three Slots Up For 3G Spectrum Auction

The Government has announced that the 3G spectrum available for next month’s auction can accommodate only 3 operators, because the Ministry of Defence is reluctant to vacate the extra spectrum, and one slot in each circle is reserved for the BSNL-MTNL combine. (Read more at PTI). Meanwhile, Telecom Minister A. Raja has said that the auctions will be held of schedule. More at Dow Jones.

Orkut Launches ‘Share On Orkut

Orkut has launched a new way of sharing links and sites that users like. What one first needs to do is drag and drop the ‘Share on Orkut’ bookmark tab on its blog to the browser’s bookmarks toolbar. When a user sees anything interesting, he can click on ‘Share on Orkut’ and it is shared among the  Orkut friends with a snippet from the site. (Read more at Google India Blog)

Assocham Wants 74 percent FDI In Entertainment Industry

Assocham wants a national media policy that outlines the vision and strategy for a robust and active entertainment sector. The body also suggests that the FDI cap in the media sector be made 74 percent since the sector is capital intensive. The suggestions are part ‘Blueprint’ on how to attract investments into the entertainment sector.  (Read more at Indiantelevision.com)

Sistema Shyam To Sell Stake To Russian Agency

After much sought clearance from the FIPB, Sistema Shyam Teleservices (MTS) has announced that will sell a 19.8 perent stake to the Russian Government for $676.9 million. The company will issue 662.75 million shares, on a preferred basis, to the Russian Federal Agency at Rs 49.31 each and 228.55 million shares to its Indian promoters at Rs 10 a share. Post sale Sistema will hold 54.2 percent and Shyam Group will continue with 23.5 percent in the JV. (Read more at WSJ)

eInfochips Ltd Acquires nGIN Technologies

India and US based eInfochips Ltd has acquired nGIN Technologies, a Chennai based solutions and services provider for telecom OEMs.The acquisition is on an earn out model for a period of three years.

$400 Million Southeast Asia Japan Cable System

Globe Telecom (Philippines), Google (USA), KDDI (Japan), Network i2i, Reliance Globalcom (through FLAG Pacific Limited, Bermuda), and Telemedia Pacific Inc., Ltd. (Hong Kong/Indonesia) have signed an agreement to build and operate the Southeast Asia Japan Cable (SJC) system . The cable system is estimated to cost $400 million and measure 8300 km which will initially link Singapore, Hong Kong, Indonesia, Philippines, and Japan. SJC is targeted to be operational by Q2 of 2012.

Apollo Management Acquires Dish TV Shares

We’d reported a few days ago about Apollo Management acquiring 11 percent stake in Dish TV. According to filings with the National Stock Exchange, Apollo India Private Equity II (Mauritius) Ltd. has so far acquired 117,035,000  shares from the market.

Also Read:
Dish TV Sells 11% Stake For $100M To PE Firm Apollo Mgmt

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