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SINGTEL - TELCO GIANT AT TINY 16 YEAR LOW PRICE
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danger
Supreme |
01-Sep-2020 16:46
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ALL THE BIG MAJOR GOOD NEWS COMING OUT OF INDIA ON SEPT 1 | ||
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Starship
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01-Sep-2020 16:43
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Unit of Singtel associate Bharti Airtel gets board approval for Indus Towers merger TUE, SEP 01, 2020 - 12:09 PM THE board of Bharti Infratel has authorised the company' s chairman to proceed with the scheme of arrangement between Indus Towers and Bharti Infratel and to comply with other procedural requirements for completing the merger. This includes approaching the National Company Law Tribunal to make the scheme effective, subject to certain procedural conditions precedent, Bharti Infratel said in a press statement on Tuesday. Bharti Infratel is a subsidiary of Bharti Airtel, the Indian associate telco of mainboard-listed Singtel. The company' s board of directors had on multiple occasions extended the long-stop date for the scheme to become effective as other actions and conditions required could not be completed. The last extension was on June 24 to the latest long-stop date of Aug 31. The company also disclosed the likely shareholding structure in the merged entity, based on adjustments reflecting current facts and circumstances. These percentages are subject to change based on agreed closing adjustments, Bharti Infratel said. Current Infratel shareholders will hold the bulk of the shareholding at 68.6 per cent, total for Indus share swap at 31.4 per cent, Vodafone Group at 28.2 per cent, and PEP at 3.2 per cent. Bharti Infratel said the likely shareholding structure is based on the cash consideration chosen by Vodafone Idea for the sale of the latter' s 11.15 per cent shareholding in Indus, which will be based on 60 days of volume-weighted average price as at the closing date. Based on Tuesday' s calculation, the cash consideration comes to about 4,000 crore rupees (S$740.7 million). To secure the payment obligation of Vodafone Idea under the master service agreements, Vodafone Idea and Vodafone Group have entered into certain security arrangements with Bharti Infratel for the benefit of the merged entity. " While the parties have agreed to proceed to take appropriate steps to progress the approvals for the merger, the completion of the transaction shall be subject to receipt of all such approvals," the company said. The proposed merger of Indus Towers and Bharti Infratel will create one of the largest telecom tower companies in the world, with more than 163,000 structures. https://www.businesstimes.com.sg/companies-markets/unit-of-singtel-associate-bharti-airtel-gets-board-approval-for-indus-towers |
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danger
Supreme |
01-Sep-2020 16:38
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Starship
Supreme |
01-Sep-2020 16:36
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India Supreme Court approves payment plan for telcos including Bharti Airtel TUE, SEP 01, 2020 - 3:05 PM [NEW DELHI] India' s top court approved a 10-year payment plan for telecom companies to clear combined back-fees worth 1.4 trillion rupees (S$25.83 billion), a ruling that comes as only a partial relief for cash strapped Vodafone Idea. The Supreme Court on Tuesday rejected the 20-year payment timeline as proposed by Prime Minister Narendra Modi' s administration and supported by telecom companies, but allowed the federal government to collect the amount in installments. The three-judge panel headed by Justice Arun Mishra said 10 per cent of the dues must be paid in the first tranche. While the ruling is not the most desired option, it is still a relief for operators such as Singtel associate Bharti Airtel and Vodafone Idea. Vodafone is particularly struggling with mounting losses and more than US$14 billion of debt. Billionaire Kumar Mangalam Birla, the chairman of the local joint venture with UK' s Vodafone Group, warned in December that the company was headed toward insolvency in the absence of any aid. Shares of Bharti Airtel gained as much as 5.1 per cent after the verdict while Vodafone Idea plunged 15 per cent. Representatives for the companies declined to immediately comment. " This is positive for Bharti Airtel and Reliance Jio and negative for Vodafone Idea," said Gurmeet Chadha, strategist at Complete Circle Consultants in Delhi. " Telecom is a gruesome business and when 5G comes you will have to pay more for spectrum. Eventually, unless Vodafone Idea raises significant capital or gets a strategic partner, we are headed for a duopoly." The case that meandered through the Indian legal system for almost two decades saw the bill Vodafone Idea faces ballooning to US$7.8 billion after government officials submitted new calculations to the court in March. Vodafone Idea has paid a little over US$1 billion against its dues so far. Airtel, which now faces US$5.9 billion in total payments, has cleared US$2.4 billion. https://www.businesstimes.com.sg/companies-markets/india-supreme-court-approves-payment-plan-for-telcos-including-bharti-airtel |
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danger
Supreme |
01-Sep-2020 16:30
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THE TIME IS NOW !!! | ||
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danger
Supreme |
01-Sep-2020 16:21
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Vodafone is losing alot of customers to the top 2 telcos in INDIA ... bharti airtel partially owned by Singtel | ||
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danger
Supreme |
01-Sep-2020 16:17
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AGR Case: Supreme Court Gives Telecom Operators 10 Years To Pay Pending Dues Reacting to the development, shares of Bharti Airtel Ltd. rose as much as 6.6%, while Vodafone Idea Ltd. pared gains to fall as much as 15%&mdash the most since March. In comparison, the Nifty 50 Index is up 0.64%.
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danger
Supreme |
01-Sep-2020 16:08
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With the number of people using the internet in the world' s second-most-populous country rising, the infrastructure that would widen its accessibility is a key building block. | ||
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danger
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01-Sep-2020 16:03
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GIC, Singapore' s sovereign wealth fund, said on Tuesday (Sep 1) it and a group of investors, including Brookfield Infrastructure Partners LP, bought an Indian telecom tower company from a unit of Reliance Industries for US$3.4 billion. | ||
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danger
Supreme |
01-Sep-2020 15:57
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August 2020: Indian telcos reported strong revenue and EBITDA growth in the three months ending June 2020 (1QFY21) yoy, boosted by tariff growth and higher data usage, defying the economic slowdown from the country-wide lockdown of 68 days up to end-May 2020, says Fitch Ratings. Revenue market share continues to consolidate with market leader Reliance Jio (Jio, the telecom unit of Reliance Industries Ltd (BBB-/Stable) and Bharti Airtel Limited (BBB-/Negative), as the third-largest telco, Vodafone Idea Ltd, is losing 10 million-15 million users per quarter. | ||
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danger
Supreme |
01-Sep-2020 15:57
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LOAD UP !!! | ||
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