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News Digest: Reliance Communications, Huawei, Kapil Sibal

– Huawei is expecting a 40 percent growth in its revenues from India this year. This growth is expected to come from the large-scale 3G expansion and LTE roll out in the country. Read more at The Economic Times.

– Reliance Communications has demanded Rs 70 crore from S Tel for using its network infrastructure and towers. Read more at The Economic Times

– Plans of Reliance Communications selling a stake in its tower unit have now been delayed till June 2012, because of valuation concerns, since two of the operators who were using Reliance Infratel Ltd.’s infrastructure have either shut shop or are scaling down their operations. Read more at The Wall Street Journal.

– Reliance Communications has paid an redemption amount of $1182 million (Rs 5,825 crore) to the Principal Agent of FCCB – Deutsche Bank AG, London Branch, to redeem all the outstanding Foreign Currency Convertible Bonds (FCCBs) issued in February, 2007 and due on March, 01, 2012. This redemption amount is inclusive of a 27.69% premium.

– Telecom minister Kapil Sibal has stated that the Indian government will not pursue a protectionism policy and they will provide equal opportunity to all foreign electronics manufacturers. Read more at The Economic Times.

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