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
EBRD to pay 4.6 billion roubles for 11.75 percent stake.
more »
On 24 November in London a letter of intent will be signed between Alytus Municipality and the Spanish aluminium company “Sopena group” regarding investments of the “Sopena group” in Alytus.
more »
Tourism opportunities in Dzūkija Region of Lithuania and other issues of incoming tourism promotion were the main topics of the meeting of the Mixed Intergovernmental Commission on Trade and Economic Cooperation between the People’s Republic of China and the Republic of Lithuania.
more »
On 22-23 November in Kiyv, foreign ministers of Lithuania, Ukraine and Belarus discuss trilateral cooperation and participation of Belarus and Ukraine in the Eastern Partnership of the European Union.
more »
The Kozloduy International Decommissioning Support Fund is supporting an innovative programme to boost energy savings and efficiency of public buildings in Bulgaria with a €5 million grant.
more »
Bank DnB NORD’s Economic Research Group predicts that out of the six Baltic Rim countries, moderate economic growth will be seen in Poland, Finland and, possibly Estonia in 2010, while Denmark, Lithuania and Latvia will need more time to climb out of recession.
more »
In a meeting in Brussels of the European Bank Coordination Initiative held on 19 November 2009, the parent banks of the six largest foreign banks active in Hungary reaffirmed their commitments made in May 2009 to support their subsidiaries.
more »
On 17 November 2009, the Board of AB Bank SNORAS decided to establish the bank’s representative office in London.
more »
The European Commission has approved, under EC Treaty state aid rules, two capital injections in favour of 'The Mortgage and Land Bank of Latvia' (LHZB).
more »
The government of G hana will tomorrow sign an historic agreement with the EU aimed at ensuring that only legally harvested timber from the West African country is exported to the EU market.
more »