Essar Completes Acquisition Of AGC Networks
Essar Group completed its acquisition of AGC Networks, total deal size was $61.4 million (Rs 288 crore), taking Essar’s stake in the company to 79.13 per cent, including closure of the open offer representing 20 per cent of AGC Networks’ outstanding shares.[Business Standard]

Sam Pitroda Criticizes BSNL For Losing Competitive Edge
Having not started 3G services earlier and losing its competitive edge over other operators BSNL was slammed on Thursday by Advisor to the Prime Minister and telecom czar Sam Pitroda, in his addressing a function to mark the launch of 3G services in Gauriganj.[India Times]

BSNL Cancels Tender To Include Chinese Makers
BSNL has decided to cancel its existing tender for 5.5 million GSM lines and is inviting new bids to include Chinese telecom equipment makers Huawei and ZTE. With Chinese vendors being confident of giving a “strong fight” to European firms for BSNL’s Rs 2,000-crore equipment order.[Business Standard] [Telegraph India]

Sunil Mittal’s Son To Join Airtel’s International Business
Shravin Mittal, son of Bharti Group Founder and Group CEO Sunil Mittal, is joining join Bharti Airtel International (Netherlands) BV, or BAIN, the company formed after Bharti Airtel acquired Zain’s telecom assets in Africa.[The Hindu Business Line]

Mobile Gambling To Exceed $48 Billion By 2015
According to a report by Britain’s Juniper Research, gambling on mobile devices would exceed $48 billion by 2015. Japan Racing Association’s iPAT service accounts for the most mobile gambling transactions with services in the U.K. accounting for much of the remainder.[The Globe And Mail]

RBNL Attracts Diverse Range Of Investors
Rakesh Jhunjhunwala and corporate entities such as Zuari Investments Ltd, the financial services company of the K.K. Birla Group, and Kolkata-based Century Plyboards (I) Ltd, invest in Reliance Broadcast Network Ltd.
[Live Mint]