Reliance Infocomm valuation

Reliance Infocomm which has a subscriber base of 11 million across 20 circles has been valued at around Rs 22,500 crore.
In the first major step towards untangling the cross-holdings in the Reliance group companies as part of the settlement between the Ambani brothers, the board of Reliance Industries Limited (RIL) on Tuesday decided to [...]

Birlas in race for Cingular’s Idea stake

Economic Times scoops that the AV Birla group, which till last year was not keen on expanding in telecom and was looking to exit Idea is now considering a buyout of Cingular’s stake in the cellular operator. It has floated a proposal under which it could buy out both the Tata group and Cingular’s combined [...]