RCOM arm sets price range for US$1bn Singapore IPO
Reliance Communications Ltd has set an indicative price range for the Singapore initial public offering of its undersea cable unit that could raise as much as $1 bn, according to reports.
Reports stated that the company is planning to raise funds to ease a debt load of $7 bn as of March.
Global Telecommunications Infrastructure Trust plans to sell between 642.2 mn and 757.6 mn units at a price range of $1.09 to $1.32 a unit, report says.
There are reports that the yield range offered by Reliance Communications is higher than the 8.5% estimate for 2013 for Singapore-listed Hutchison Port Trust.
Arvind Rao resigns as CEO of OnMobile
As previously reported, OnMobile, a leader in mobile VAS has been going through a review of its corporate governance procedures. Based on a recently concluded special review completed by our legal advisors, Amarchand Mangaldas & Suresh A. Shroff, advocates duly supported by KPMG, the Board of Directors on Monday took on record the report submitted and noted that the review had identified weaknesses in some processes. The Company has initiated steps to rectify all the weaknesses.
While the review has identified some weaknesses, strong alternate controls have ensured that the Company did not suffer any loss, OnMobile said in a statement. Recognizing that these weaknesses took place during his tenure, Arvind Rao, has submitted his resignation from the position as Managing Director and CEO with immediate effect, the company said. The Board has accepted Rao's resignation. The Company recognizes his valuable contribution as one of its founding promoters.
Mouli Raman, Co-founder and Executive Director will take on the role of interim Managing Director, OnMobile said yesterday. The Company has also initiated a search for a new CEO.
In focus Stories
IIFL on Telecom: More unworkable options from DoT
IIFL Institutional Equities, a part of the IIFL Group, one of the leading players in the Indian financial services space, in a recent report on Telecom sector said, according to media reports, the DoT has proposed three options:payment for all spectrum until licence expiry, payment for excess spectrum for GSM/CDMA beyond 4.4/2.5MHz and payment for excess spectrum beyond 6.2/5MHz (either for GSM or CDMA).
IIFL said, “We believe none of these options is feasible. Thus, we expect the government to become increasingly defensive and incapable of enforcing punitive regulation (such as high payouts only for GSM incumbents, and re-farming).
Auctions face further delays, which should be negative for the cancelled licensees. A full reset (everyone pays for all spectrum simultaneously for 20 years) seems the best bet, brokerage added.
The report was published by IIFL’s Institutional Equities Research desk.
Wipro Tech plans to restructure telecom vertical: reports
Wipro Technologies is planning to restructure its telecom vertical to focus more on areas like telecom analytics and mobile broadband, according to reports.
Reports stated that Wipro has been focused on product engineering for telecom equipment vendors.
Wipro Technologies has large telecom network clients such as Ericsson, Nokia Siemens Networks and Siemens, report says.
TRAI to benchmark QoS parameters for Mobile Data Services
The Telecom Regulatory Authority of India (TRAI) has on Monday (09th July, 2012) released draft regulations on “Standards of Quality of Service for Mobile Data Services Regulations, 2012”
The service providers are rolling out 3G services and these services are presently available in all the service areas. With the roll out of 3G and Broadband Wireless Access (BWA) services, the growth rate in cellular mobile telephone service is poised for higher growth, compared to wire line internet users.
Presently, there is no quality of service standards for the mobile data services. It is necessary to benchmark and monitor the quality of service offered by the service providers of mobile data services with various options open to the implementing agencies so that the interests of consumers are protected.
TRAI, therefore, decided to benchmark the quality of service parameters for mobile data services, so that the interests of consumers are protected. Accordingly, the draft regulations have been prepared.
Uninor launches STV 49 ‘Ek Bharat, Ek Rate’ plan
Uninor is now giving Mumbaikars the chance to enjoy one of the best talk time offers in the city with the launch of its Special Tariff Voucher - STV 49 ‘Ek Bharat, Ek Rate’ plan. The only GSM operator in the city to provide the cheapest talk time plan without any restrictions at just Rs. 49, Uninor’s new pack comes with a validity of one month and offers a flat rate of just 25 paise per minute on all local and STD calls.
The launch of STV 49 gives Uninor customers the freedom to call anywhere in Mumbai or India and to any network without heavy call charges so that customers can enjoy their conversations without expecting big deductions at the end of calls. With this, Uninor has once again reinforced its commitment to providing ‘Best in Voice’ offerings across Mumbai.
MTS hikes benefits by ~200% for MBlaze customers in Mumbai
OnMobile shares jump 6% on Arvind Rao's resignation
MediaTek announces partnership to bring Twitter to Smart-Feature Phones
Vodafone to acquire TelstraClear for US$668mn
Vodafone Group Plc announced that Vodafone New Zealand has entered into an agreement to acquire TelstraClear Ltd., the New Zealand business of Telstra Corporation, for a cash consideration of NZ$840 million (£430 million1).
Vodafone New Zealand is the country’s largest mobile operator with more than 2.4 million customers. TelstraClear is the second largest fixed operator in New Zealand with extensive fixed network assets and capabilities. Its customer base includes government and large corporations, small and medium enterprises as well as consumers.
The acquisition of TelstraClear will strengthen Vodafone New Zealand’s portfolio of fixed communications solutions and create a leading total communications company.TelstraClear owns New Zealand’s second largest fixed infrastructure, which includes a 6,600km fibre backbone connecting 19 of the country’s largest cities. It also includes an extensive local access network with 2,000km of fibre and 4,500km of copper as well as a cable TV and broadband access network passing 150,000 homes in Wellington and Christchurch.
NTT uses Juniper Networks Mobile Security Solutions
Juniper Networks, the industry leader in network innovation, and NTT Communications today announced NTT Communications has integrated Juniper Networks security and remote access technologies into Mobile Connect, a new “Bring Your Own Device” (BYOD) security service launched to address corporate customers’ demand for enhanced mobile network access.
NTT Communications chose Juniper Networks MAG Series Junos Pulse Gateways and Junos Pulse multi-function, multi-platform mobile security software as key components of its overall solution, enabling it to roll out a highly-secure, policy-driven mobility service to customers rapidly and cost-effectively. Before launching Mobile Connect, NTT Communications deployed the same Juniper Networks solutions internally to enable its own, highly successful BYOD program for its employees.
Huawei announces Huawei Ascend D1 dual-core Android 4.0 ICS smartphone
Huawei, a leading global information and communications technology (ICT) solutions provider, today announced that the Huawei Ascend D1, its latest flagship dual-core Android 4.0 ICS smartphone, will be available to consumers in Russia through LANCK Telecom from August, with availability in other markets to follow. The Ascend D1 goes on sale today in China through various e-commerce platforms including Huawei’s online shopping mall – Vmall.com.
The Ascend D1 is a speedy all-rounder, combining good looks and performance with an exceptional audio visual experience. Powered by a Texas TI OMAP 1.5 GHz dual-core CPU and 1GB RAM, the Ascend D1 offers a mobile cinematic experience with its high-definition 4.5-inch, 1280 x 720 high-definition IPS+ Corning Gorilla Glass display providing crystal clear images even under direct sunlight.
Its Dolby 5.1 Surround Sound and Audience earSmart voice technology ensures you never miss a word.
RIM defends turnaround plan to shareholders: reports
June sales at Apple's Taiwanese suppliers fell 13%: reports
ZTE, Universidad de Chile plans to open innovation and training center
Polycom announces social video software application
Quantum sets new standard for integrated data protection solution
HP enables telecoms to deploy and manage mobile applications for business customers
Telit Wireless enters into alliance with "Rabyte Electronics"
Dax Networks launches DX-924U-ARO Router