Bharti Airtel buys Tikonas 4G business for Rs.1600 cr
The Dollar Business Bureau Telecom major Bharti Airtel Ltd has acquired the 4G business of Tikona Digital Networks for Rs1,600 crore, to ramp up its capacity of a high-speed broadband spectrum to take on Vodafone-Idea Cellular and Reliance Jio Infocomm in a highly competitive telecom market which is witnessing rapid consolidation. The deal, which was announced just a few days after the merger of Vodafone and Idea, will give an edge to Bharti Airtel as the largest telecommunications company in India. Through this deal Bharti can gain access to Tikona’s 4G airwaves in five states of Gujarat, UP (West), UP (East), Rajasthan and Himachal Pradesh. This will also bridge the gap between Bharti Airtel's pan-India 4G capacity and Reliance Jio and ...
OPIC to allocate funds to India for expansion of internet facilities
The Dollar Business Bureau The American Institution has approved an amount of $421 million to India, for the development of its solar and broadband projects, so that it could expand its internet infrastructure. Overseas Private Investment Corporation, the U.S. Government’s Development Finance Institution has sanctioned $250 million in senior debt financing to the subsidiaries of ReNew Power Ventures Private Limited. This would be utilised to construct up to 400 megawatt of renewable solar generation in India, covering various projects. ReNew will help India to achieve its goals to gradually adapt a low carbon economy. This is possible with the innovative financial structure that would efficiently streamline the funding projects for the new energy products. An approval from OPIC of ...
