Telenor India, Tikona discuss merger - report

News Wireless India 22 SEP 2016
Telenor India, Tikona discuss merger - report

Telenor India is in talks with Tikona Digital to merge parts of their broadband spectrum business, ET Now reports, without citing sources. The merger plans do not include the companies’ voice businesses, as the deal will focus on Telenor India’s and Tikona Digital’s data units. According to the same source, both companies seek to synergise their respective teams and operational capabilities. The deal would also expand Telenor India’s and Tikona Digital’s spectrum footprint to additional circles.

Tikona Digital Networks earlier studied the potential sale of its 4G spectrum to Vodafone India. Tikona has airwaves in the 2300 MHz band, which it bought in the 2010 auctions in Gujarat, Himachal Pradesh, UP (East), UP (West) and Rajasthan for INR 10.5 billion.

Categories:

Mobile

Companies:

Telenor,  Vodafone India

Countries:

India

Tags:

Wholesale, Corporate strategy, M&A buyouts & divestments

Related Articles

INDIA 29 AUG 2017

Airtel completes acquisition of Tikona Digital Networks

Indian operator Bharti Airtel has completed the acquisition of Tikona Digital Networks. Tikona Digital Netowkrs is now a subsidiary of Bharti Airtel. The transaction for the trading of spectrum in the Rajasthan circle is still pending approval from the Department of Telecom (DoT), Airtel said.

INDIA 30 JAN 2017

Vodafone India confirms merger talks with Idea Cellular

Vodafone has confirmed that it is in discussions with the Aditya Birla Group about an all share merger of Vodafone India and Idea Cellular. The potential deal would exclude Vodafone's 42 percent stake in Indus Towers, Vodafone also said. The company also added that any merger would be effected through the issue of new shares in Idea to Vodafone and would result in Vodafone deconsolidating Vodafone India.

INDIA 16 DEC 2016

Telenor in talks to give away Indian arm to Idea - report

Telenor has held talks with Idea Cellular for a cashless sale of its Indian unit, according to a report in the Economic Times of India, citing a person familiar with the development. The deal would entail the country's third-largest mobile phone company taking over all the liabilities Telenor India. Idea Cellular did not respond to an emailed request for comment from the Economic Times, and Telenor said it does not comment on market rumours and speculation.

INDIA 26 OCT 2016

Telenor India sheds 186,000 subscribers in Q3

Telenor's Indian operation lost 186,000 subscribers during the third quarter, ending September with a total subscriber base of 44.7 million. At the end of the quarter, the subscription base was 9 percent higher than in the same quarter of 2015. ARPU in local currency increased slightly to INR 92. Revenues in local currency increased by 12 percent year-on-year, to NOK 1.54 billion. Subscription and traffic revenues in local currency increased by 10 percent.

SCANDINAVIA 26 OCT 2016

Telenor Q3 loss widens on writedowns, revenues still growing

Telenor saw its net loss for the third quarter widen to NOK 4.82 billion from NOK 1.77 billion a year ago, after writedowns on operations in India and stake in Vimpelcom. The company took an impairment charge of NOK 4 billion on its Indian licences after the recent spectrum auction there, while the Vimpelcom stake suffered total writedowns of NOK 2.4 billion after Telenor sold part of its shares in the Russian operator during the quarter. Telenor still reported a small increase in underlying results. Revenu

INDIA 30 DEC 2015

Vodafone in talks to buy Tikona's 4G spectrum - report

Vodafone India is in early talks with Tikona Digital Networks to acquire its 4G spectrum, ET reports, citing an unnamed person familiar with the matter. According to this source, Vodafone wants to "purchase all" of Tikona's spectrum in the 2300 MHz frequency band. Vodafone India thus plans to double its geographical 4G presence from its current five circles.

INDIA 12 OCT 2015

Tikona to expand LTE service to 30 cities in H1 2016

Indian internet services provider Tikona Digital Networks plans to launch 4G LTE services in 30 cities in five telecom circles in the first half of 2016, Heramb Ranade, CMO of Tikona Digital Networks said in an interview with The Economic Times. Tikona owns 20 MHz of 4G spectrum in the Gujarat, Himachal Pradesh and Rajasthan, Uttar Pradesh East and West circles.

INDIA 12 OCT 2015

Tikona selects ZTE as 4G equipment supplier in India

ZTE has won a contract from Indian internet services provider Tikona Digital Networks. ZTE will help Tikona launch 4G Home Broadband Services in Varanasi city. ZTE will serve as exclusive supplier to supply TD-LTE equipment in all their 5 circles for building Tikona's broadband network.

INDIA 19 NOV 2014

Tikona Digital secures financing for USD 45 mln

Indian internet services provider Tikona Digital raised USD 45 million in a fresh round of funding, The Economic Times reports. IFC led the round with an investment of USD 25 million. The other USD 20 million came from funds managed by Goldman Sachs Asset Management, Oak Investment partners, Everstone Capital and L&T Infrastructure Finance, according to the report. Founded in 2008, Tikona provides broadband services in 25 cities across India.

INDIA 14 JAN 2014

Tikona allowed to raise foreign direct investment

Indian wireless broadband operator Tikona Digital has been granted approval by the Foreign Investment Promotion Board (FIPB) to raise INR 2.48 billion in foreign direct investment. The company plans to issue compulsorily convertible debentures (CCDs) and equity shares to existing investors, raising the foreign equity stake in the company to 72.6 percent, MediaNama reports. Tikona offers wireless internet services to consumers and small businesses and is currently operational in 25 cities.

INDIA 16 AUG 2013

Tikona in talks to raise funds - report

Indian wireless broadband operator Tikona Digital is in talks with several companies about raising funds. Reportedly, Google Capital, Yahoo!, and Microsoft are interested in investing in the company, The Economic Times writes citing an unnamed source with knowledge of the matter. Tikona is planning to roll out 4G in Gujarat, Uttar Pradesh East and West, Rajasthan, and Himachal Pradesh, where it has licences to do so.

Just In

14:00

Vi introduces Niyo Zero Forex Markup Card for travelers

13:39

True reshuffles executive team

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.