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Articles tagged with: Essar Group
Fitch Places Essar Telecom's Rating on Watch Positive
Fitch Ratings has placed India-based Essar Telecom Infrastructure Private Limited's (ETIPL) National Long-term rating of 'BBB+(ind)' on Rating Watch Positive (RWP). The agency has also placed ETIPL's INR200m cash credit facility rated 'BBB+(ind)'/'F2+(ind)', and the Short-term rating of its INR470m bank guarantees rated 'F2+(ind)' on RWP. In addition to the existing facilities, the agency has also assigned rating of 'BBB+(ind)' to ETIPL's term loan sanctions of INR8,050m and simultaneously placed the rating on RWP. more
Related Tags: american-tower, India
India's Loop Telecom Faces Loss of Operating Licenses
India's Loop Telecom is facing the possible forfeiture of its 21 operating licenses after the Department of Telecom asked the ministry of corporate affairs (MCA) to carry out a second investigation into the company's shareholders. more
Related Tags: loop-telecom, vodafone, bpl-mobile, India
India's Essar Group Takes Majority Stake in Kenyan Operator
India's Essar Group has reportedly taken control of the Kenyan mobile network, yu, after buying out Econet Wireless's holding in the company. Essar Telecom Kenya now has an 80% stake in the company. more
Related Tags: yu, essar-telecom-kenya, econet-wireless, Kenya
Fraud Office Investigating Loop Mobile Shareholders
India's Serious Fraud Investigating Office is reported to have asked the country's Ministry of Corporate Affairs to investigate alleged license violations by Loop Telecom. The investigation follows complaints from a Non-Governmental Organisation (NGO) that the company has two shareholders of unknown nationality. more
Related Tags: loop-telecom, bpl-mobile, India
Essar Group in Talks to Take Stake in African Operator
India's Essar Group says that it is looking at an investment into Abu Dhabi Group's telecoms business, which would give it access to the firm's African subsidiaries. The Dhabi Group owns Warid Telecom International, which has African operations in Uganda and Republic of the Congo. Warid is expected to launch in the Ivory Coast soon. more
Related Tags: abu-dhabi-group, warid-telecom, essar-telecom, dhabi-group, georgia
Essar Group Moves its Vodafone Shareholding into Holding Company
India's Essar Group is reported to have moved part of its 33% stake in Vodafone Essar to a new stand-alone company with the intention to use it as collateral for fund raising purposes. A person privy to the development told the Economic Times that the diversified Essar group has transferred a 10.97% stake from its telecom arm Essar Teleholdings to a newly-created firm ETHL Communications Holdings. more
Related Tags: loop-mobile, vodafone-essar, essar, hutch, India
Essar's Ugandan Discussions Result in a Mobile License
India's Essar Group has won a license to build a mobile network in Uganda, reports local media. The subsidiary company, Essar Teleholdings will own 90% of the Ugandan company - and already has a mobile operator license in Kenya. more
Related Tags: essar-teleholdings, essar, essar-telecom-kenya, essar-telecom, Uganda
Indian Operator at Risk of Losing Telecoms License
The telecoms license held by India's Loop Telecom may be at risk after the ministry of corporate affairs (MCA) has asked the communications ministry to investigate if the shareholders violate the law on cross company ownership. more
Related Tags: loop-telecom, vodafone, bpl-mobile, ovi, zte, tim, ict, mumbai, essar, loop-mobile, India
India's Aircel Reported to be in Talks to Buy Loop Mobile
India's Aircel Cellular is reported to be in talks to buy Mumbai based Loop Mobile (formerly BPL Mobile), which is owned by the Ruias of the Essar group. Both companies have been holding discussions for around seven months now, two people familiar with the discussions told the Economic Times. more
Related Tags: ict, vodafone, tim, mtn, cdma, loop-telecom, bpl-mobile, bharti, bharti-airtel, mtnl, mumbai, seven, maxis, essar, vodafone-essar, aircel, loop-mobile, hutch, India
Vodafone Seeking Damages From Indian Partner
India's Vodafone Essar is seeking damages of around Rs 1,100 crore (US$252 million) from the Essar Group for not transferring shares in Mumbai based BPL Mobile to the company. As part of Vodafone's move into the Indian market, the company agreed to buy BPL Mobile from the Ruias of the Essar Group and merge it with Vodafone Essar. more
Related Tags: loop-telecom, bpl-mobile, mumbai, essar, vodafone-essar, hutch, India
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