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News Digest: Tata Sky, BSNL, Vodafone, SSTL, DoT, PVR, HomeShop18 & More

– Tata Sons is looking to sell a part of its 60% stake in the direct-to-home (DTH) service provider Tata Sky, to private equity players and institutional investors in a bid to raise capital for the company’s future growth plans. Further, private equity firm Temasek is apparently exiting the company by selling off its 10% stake while Rupert Murdoch’s Network Digital Distribution Services is selling a part of its 30% stake in the company. Read more at Business Standard.

– BSNL is looking to earn Rs 1,600 crore revenue in the next five years by spinning off its tower business as a separate company. The company currently has around 70,000 telecom towers. Read more at FirstPost.

– BSNL estimates to earn revenues of Rs 25,384 crore for the year ending 2012-13, down 9% from Rs 27,944 crore revenues reported in 2011-12. Read more at The Economic Times.

– Several telcos including Airtel, Idea Cellular, Vodafone and Tata Teleservices have apparently started cutting freebies and reducing talktime on prepaid discount vouchers. Read more at The Economic Times.

– Vodafone has blocked all SMSs to the Aircel network due to the latter’s non-payment of termination charges. Read more at The Times Of India.

– Sistema Shyam Teleservices which operates its telecom services in India as MTS, has stated that it has no plans to acquire any telecom service provider in the country. Read more at Business Standard.

– All successful bidders of the recently concluded 2G spectrum auction should make the requisite full payment or at least 33% of the amount due by December 1, 2012, failing which the telcos will be forfeiting its earnest money deposit (EMD). Download DoT Notification (pdf).

– Multiplex operator PVR is looking to acquire 69% stake owned by Cinemax promoters Rashesh Kanakia and family, followed by an open offer for 26% stake in the company. Read more at The Economic Times.

– Network18 owned HomeShop18 is looking to raise $50 million pre-IPO funding and has appointed an International bank for this initiative. Read more at TechCircle.

– Bharti Walmart has suspended its Chief Financial Officer (CFO) and the entire legal team, as part of global investigation into a potential violation against America’s anti-bribery laws. Read more at The Times Of India.

– Mobile Subscriptions has dropped by 18% in the country and currently stands at 91.3 crore for during Q3 2012. Mobile penetration stands at 72% as of November 2012. Download November 2012 edition of Ericsson Mobility Report (pdf).

– Indian teens spend 86% of their time on Facebook and 54% of their time on Twitter on a daily basis, according to McAfee. Read more at The Hindu Business Line.

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ