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News Roundup: Sistema set to buy Aircel for $3B in largest telecom deal since Vodafone-Hutch buyout

14 September, 2012

Sistema set to buy Aircel for $3B in largest telecom deal since Vodafone-Hutch buyout: Russia’s SistemaJSFC is close to acquiring a controlling stake in Aircel Communications for around $3 billion (Rs 16,000-17,000 crore), making this one of the largest transactions in the telecom sector since Vodafone bought Hutchison Essar for $11.7 billion in 2007. Two persons familiar with the development said Sistema would buy into Aircel’s parent company based overseas with rights to have the Indian arm transferred to it after an ongoing restructuring process is completed. (Economic Times)

Nokia Siemens sees good interest from buyers for its non-core business unit: Mobile network equipment maker Nokia Siemens Networks (NSN) which was looking at divesting its non-core business lines today said it is seeing “good interest” from potential buyers for its business support systems (BSS) unit. “We are seeing good interest for the BBS unit. I would say, overall, we have about six divestments that already took place. They’re either not core to our mobile broadband or we see that the profitability is not where we want it to be,” NSN chief executive Rajeev Suri today said. (Business Standard)

Govt likely to approve stake sale in 5 PSUs, IPO of RITES: Hard pressed to achieve disinvestment target of Rs 30,000 crore in the current fiscal, the government will consider the proposal of stake sale in five state-owned companies including Hindustan Copper , Oil India and Nalco. Besides stake sale, the Cabinet Committee on Economic Affairs (CCEA) in its meeting tomorrow, will also consider initial public offering (IPO) in the Rail India Technical and Economical Services (RITES). (Moneycontrol)

Tata Petrodyne in talks to buy Al Hayat group’s oil assets: India’s Tata Petrodyne is in talks with Bahrain-based Al Hayat Group for buying oil blocks in the country. According to CNBC-TV18 reports, the deal value is likely to be between Rs 1,400 crore and Rs 1,600 crore. The Al Hayat Group is looking for partners for its oil blocks in Bahrain. (Moneycontrol)

Hochtief scouts for hydropower projects in India: Germany’s biggest construction company Hochtief is looking to acquire stakes in hydropower projects in India to expand its portfolio in the country and drive its order book, especially at a time when several developers are struggling to execute hydropower projects, people familiar with the matter told ET. The company is primarily looking to buy up to 49% in hydropower projects with a varying capacity of 100-250 megawatts. (Economic Times)

Courtesy: VCCEdge  


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News Roundup: Sistema set to buy Aircel for $3B in largest telecom deal since Vodafone-Hutch buyout

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