jump to navigation

Anil announces GSM foray, promises exciting tariff December 31, 2008

Posted by dhirendra1972 in Asian Markets, Asin Share markets, Equity, Equity Investment, Equity Market, Equity markets, Finance, Financial Capital, financial market, Loans, Local Equity Market, Local Market, Online Marketing, Open Market.
Tags: , , ,
add a comment

Good Evening friends,

I think Anil Ambani is going to give some extra ordinary surprise to people of india. He just announce that his headed company Reliance Communications is going to come up with GSM mobile service in first week of January 2009.

 

Anil Ambani, head of Reliance Anil Dhirubhai Ambani Group (ADAG), on Tuesday announced the launch of Reliance Communications GSM mobile phone services in the first week of January 2009.

 

He did not announce the tariff plan details but promised “GSM (tariff) rates that will make people forget the Rs-501 CDMA offer of 2003.” Reliance currently has 60 million customers, including over 1.7 million individual overseas retail customers.

 

The tailored bouquet of GSM and CDMA mobility platforms gives Reliance customers the option to choose the service. Around seven out of 10 people opt for GSM service while churn out of CDMA users is less than 2 per cent.

 

“We will cover 11,000 cities, 24,000 towns and more than 60,000 villages. We will be covering all railway routes and national highway to give the best and cost affective service to our customers,” said Ambani. Rs 10,000 crore has already been invested in the GSM venture, Ambani said. “Reliance Communication will participate in 3G spectrum auction on both CDMA and GSM platforms, and it will be on the national level,” Ambani said.

Disney raises stake to 50 pc in UTV Software December 9, 2008

Posted by dhirendra1972 in Cheaper Rate, Majority Shareholder, Open Market, Walt Disney Company.
Tags: , , ,
add a comment

Good morning friends.  As per reference with The Economic Times, Walt Disney Company (South East Asia) has raised its stake to more than 50 percent and has become the majority shareholder of UTV Software Communications, a UTV official said.


Walt Disney recently acquired about 20 percent of UTV shares from the open market and increased its holding in the company to more than 50 percent. Earlier, its shareholding was 37 percent.

 

This made Walt Disney the first Hollywood studio to have majority shares in an Indian entertainment company. The shareholding of UTV and Walt Disney in UTV Software Communications has increased to 83.25 percent, the official added.

In February, Walt Disney had invested $190 million in UTV Software and increased its stake from 14.85 percent to 37.29 percent. According to UTV sources, though Walt Disney is now a majority partner of UTV Software Communications, its equation in the company will remain unchanged.

As per an agreement reached with UTV founder, Ronnie Screwvala, Walt Disney will not claim more than three seats it already has on the UTV Software 12-member board. Also, it will not use its voting rights till 2012.

An industry source revealed that Disney might have taken advantage of the market slowdown to buy UTV software’s 23 percent additional shares in the open market at a cheaper rate.

Follow

Get every new post delivered to your Inbox.