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| Saturday, June 17, 2006 |
| Hindujas Exit Hutch. Shady Deals Rock Hutch-Essar |
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Hindujas finally settled at $450 Million for their 5.1% stake in Hutch. Hindujas were demanding $600 million valuing Hutch @ $12 Billion. After Hinduja’s selloff, Hutchinson Telecommunications Ltd(HTL) stake in Indian venture is at 48% while Essar groups Ruias stake will be at 33.6%.
Taking a closer look at some of the previosu deals by Hutch and their shady investors, the Hinduja deal appears to be on the higher side. In October 2005, Essar bought 3.2% of Hutch from Analjit Singh at mere $147 Million, almost at half the price at which HTL bought their stake from Hindujas. In March 2006, one of the early investors in Hutch, Kotak Mahindra was forced to sell out its 8.33% at $226 Million in favour of Analjit Singh and Telecom Investments India Limited.
Considering all these murky deals, do you think the management is transperent in its operations ? Not really. Recollect 50% of Hutch subscribers in Haryana had obtained mobile on fake identification. Hutch has accepted the same and hopefully the concerned authorities bring Hutch to book as this is matter of serious national security and can increase the crime rate in Haryana and the NCR.
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Published on Saturday, June 17, 2006 at 8:06 PM  |
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| Wednesday, June 14, 2006 |
| Global 3G association meet at New Delhi |
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Summary of the global 3G association meet held at New Delhi and Chaired by Sunil Bharti Mittal or Bharti-Airtel.
- Their are 2 Billion GSM users in the World. GSM Telcom operators took little over 12 years to achieve the first Billion subscriptions mark, while the second billion was achieved in mere 2 and half years span.
- China is the worlds single largest GSM Market with 370 million users. Russia comes second at 143 million and India growing at more than 35% YoY, ranks third with 83 million GSM subscribers.
- Dayanidhi Maran told that India has the highest GSM mobile growth rate and cheapest call rates. Sure it does Maran called for cheaper international roaming rates, which the operators have to look upon now.
- Maran argued that spectrum was scarce & favoured charging fees for 3G licenses, while Bharti’s Sunil Mittal was not in favour of any additional fees for 3G services and quoted how our neighbors, Pakistan & Bangladesh have migrated to superior 3G networks.
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| Published on Wednesday, June 14, 2006 at 8:02 PM |
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