Tata Teleservices and Hughes Tele.com India will not merge
Published:
12 November 2001 y., Monday
Tata Teleservices and Hughes Tele.com India will not merge, sources close to Hughes said. But the Tata company will transfer its basic telecom operations in Andhra Pradesh to Hughes.
Tata Teleservices will emerge as the new holding company for the Tata group's basic telecom operations, national long-distance telephony and Internet services, after hiving off the Andhra operations, said senior Tata officials.
The details of the alliance between the two sides would be finalized within the next fortnight. The Tatas had earlier contemplated merging Tata Teleservices and Hughes Tele.com. Apart from the Andhra circle, Tata Teleservices currently holds the license for four more circles and letter of intents for three more. Hughes operates the Maharashtra circle.
Earlier, Hughes and the Tatas were deliberating on whether to bring the new four basic licenses under the merged entity. Financial factors such as stamp duty, income tax and other reasons have prompted the promoters to undertake a review of the entire merger process, said Hughes executives.
Šaltinis:
newsbytes.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Most EU countries continue to meet deadlines for incorporating single market rules into national law, contributing to economic growth and job creation.
more »
Japanese officials unveil their new bullet train, capable of travelling at speeds of 320 km per hour (198 miles per hour).
more »
The first International Security Technology Exhibition, KIPS 2011, will be held on 23-26 February 2011 in Kiev (Ukraine). The motto of the exhibition is ‘There can never be too much security!’
more »
The world's highest restaurant opens in Dubai, United Arab Emirates, located 400 metres above ground in Burj Khalifa, the world's tallest tower.
more »
The rights of consumers will be clarified and updated, whether they shop at a local store or buy goods on line, under new EU rules as amended by the Internal Market Committee on Tuesday.
more »
MEPs on Wednesday gave their green light for the Council to conclude an Interim Economic Partnership Agreement with Papua New Guinea and Fiji, two countries of the Pacific Region with significant exports to the EU.
more »
Report sets 10 priorities for tackling the bloc's main economic challenges, launching the first ever ‘European semester'.
more »
China's first capsule hotel ready to open its doors in Shanghai, aims to capture slice of booming leisure budget travel market.
more »
Declaration by Michel Barnier on the start of three new authorities for supervision.
more »
On 1 January, Estonia adopted the euro as its official currency and the changeover is running smoothly and according to plan.
more »