As the market awaits the final structure of the mega merger between Idea Cellular and Vodafone, sources privy to recent developments tell CNBC-TV18 that both the telecom companies may be open to sell 15-20 percent in the merged entity to financial investors.
The deal that will translate into India's biggest telecom company, Idea and Vodafone's merger might be backed by old hands as sources tell CNBC-TV18 that former Idea MD Sanjeev Aga is believed to be aiding the merger talks with Vodafone.
The trouble for Arvind Kejriwal is that many doubt he can make the leap from populism and street politics to policies that would lift India's economic growth from its slowest clip in a decade.
The Telecom Regulatory Authority of India (TRAI) on Monday proposed a cut of up to 60 percent in minimum auction prices for mobile phone spectrum in a response to lukewarm interest from telecom companies in two previous sales.
Foreign institutional investors hold 16.76 percent stake in Idea Cellular, 7.95 percent in Reliance Communications and 16.24 percent stake in Bharti Airtel as of June 2013.
Sanjeev Aga, director, Idea Cellular and Sajai Singh, partner, JSA discussed Arvind Mayaram's report on reviewing FDI sectoral caps in an interview to CNBC-TV18.
Idea Cellular today said one of its Directors Sanjeev Aga has sold his entire stake of 60,000 shares in the telecom firm for over Rs 68 lakh through market sale.
Telecom products firm Subex is locked at 10 percent upper circuit on Monday after two of its independent directors said they see revival in the company by June 2013.
Subex founder's sheer ambition triggered the company's meteoric rise and its catastrophic fall.
Sanjeev Aga, former CEO of Idea Cellular said, it is wrong to look at the impact of 2G auction on fiscal deficit. He also believes that the way the auction has panned out is not very desirable.
Sanjeev Aga, former CEO of Idea believes the Comptroller and Auditor General (CAG) is not a sectoral expert so findings bound to have flaws.
Idea Cellular’s Sanjeev Aga tells Forbes India that the mess in the telecom sector is actually an opportunity to make things better.