DoT requests BSNL and MTNL to identify core and non-core assets valued up to Rs 100 million for monetisation (India)
The Department of Telecommunications (DoT) has requested Bharat Sanchar Nigam Limited (BSNL) and Mahanagar Telephone Nigam Limited (MTNL) to identify core and non-core assets valued up to Rs 100 million for monetisation. The move follows the government’s difficulties in monetising the higher-value assets of BSNL and MTNL. In response to the recent government directive, BSNL is likely to identify at least 10 properties within the mentioned value range in each circle. To this end, the chief general managers of all circles have been tasked with identifying assets within the purview of the BSNL board that can be monetised. They have been given three months to complete the task, after which BSNL will share its monetisation target with DoT.
CCI approves acquisition of Tower Vision India by Ascend Telecom Infrastructure and GIP EM Ascend 2 Pte Limited
The Competition Commission of India (CCI) has approved the acquisition of Tower Vision India Private Limited by Ascend Telecom Infrastructure Private Limited and GIP EM Ascend 2 Pte. Limited. Ascend Telecom Infrastructure and GIP EM are entirely owned by funds/investment vehicles managed by entities that are ultimately controlled by Global Infrastructure Management LLC. Ascend Telecom Infrastructure is engaged in providing passive telecommunication infrastructure services through towers in India, while GIP EM Ascend 2 is currently not involved in any business operations. Meanwhile, Tower Vision India is controlled by Tower Vision Mauritius Limited and is engaged in providing passive telecommunication infrastructure services through towers in India.
CCI clears stake acquisition in VVDN Technologies by IBEF-IV
The CCI has cleared the stake acquisition in VVDN Technologies by the India Business Excellence Fund IV (IBEF-IV). The deal received clearance under the green channel route. According to the CCI, the proposed combination involves the acquisition of shareholding in VVDN Technologies by IBEF-IV through secondary share purchases of equity shares and subscription to compulsorily convertible debentures. The CCI also confirmed that there are no overlaps between the parties involved in the proposed combination. Furthermore, there are no horizontal, vertical, or complementary overlaps between the acquirers’ respective groups and the target company. Thus, the proposed combination does not have any serious impact on competition in any relevant market and has been notified under the green channel route.
Dialog, Axiata Group and Airtel sign binding term sheet to combine operations in Sri Lanka
Dialog Axiata Plc, Axiata Group Berhad and Bharti Airtel have entered into a binding term sheet to combine operations of Bharti Airtel Lanka (Private) Limited, Airtel’s wholly-owned subsidiary with Dialog, a subsidiary of Axiata Group Berhad. The proposed transaction involves Airtel receiving a stake in Dialog that represents the fair value of Airtel Lanka. Upon completion of the transaction, Airtel will be issued new shares in Dialog. Discussions with respect to the proposed transaction are ongoing between the parties and also with the relevant regulatory authorities as per applicable laws and regulations. The proposed transaction is subject to the signing of definitive agreements and fulfilment of necessary closing conditions, including applicable regulatory and shareholder approvals.
Vi starts clearing 90-100 per cent of current dues
Indus Towers Limited has announced that Vodafone Idea Limited (Vi) has started clearing 90-100 per cent of its existing dues owed to the towerco. Further, Indus Towers is urging Vi to clear its outstanding dues and has ruled out any further relaxation in the payment plan. The tower company also stated that it is closely monitoring Vi’s payment patterns and funding status to recover its accumulated dues as per the agreed schedule.
Singtel merges consumer and enterprise businesses and creates infrastructure division (Singapore)
The Singtel Group has announced a corporate restructuring plan that involves consolidating its consumer and enterprise businesses in Singapore into a singular operating company. Further, as part of the plan, the carrier will also establish a standalone infrastructure unit called Digital InfraCo. The new unit will encompass the Group’s regional data centre business, subsea cable and satellite carrier businesses, and Paragon, Singtel’s all-in-one platform for 5G mobile edge computing and cloud orchestration.
MTN Uganda invests $25.4 million in Q1 2023 (Uganda)
MTN Uganda has invested UGX 95.4 billion ($25.4 million) in the first quarter of 2023, primarily to expand its 4G network and fibre optic fixed broadband access infrastructure. The investment also aims to prepare for the launch of 5G. MTN has expressed its readiness to launch 5G services as soon as the spectrum becomes available.
