AL JAZEERA ENGLISH (AJE) Indonesian stockmarket Feed
Reliance Communications Ltd. and Unitech Ltd. dropped in Mumbai trading. This decline was seen after the officials at their groups were charged by federal investigators in an investigation into the sale of mobile-phone licenses.
Unitech closed down about 16 percent. This decline was seen the most in more than four months. Reliance Communications which is owned by billionaire Anil Ambani’s had its sharp decline in three weeks.
India’s No. 2 mobile carrier, Reliance Communications decided to sell its telecoms tower business to GTL Infrastructure Ltd., to construct the largest telecom infrastructure firm of the World, which would not be controlled by any telecom operator.
Financial terms of the deal have not been revealed by the Company yet, but the combined business would worth over $11 billion and would possess more than 80,000 towers, with more than 125,000 occupancies from 10 operators.
Reliance Communications has announced its first ever 3G mobile scheme in India. The Anil Ambani led company has introduced its MobileNet Plan for its users. This plan will allow the users to access unlimited mobile internet. It is available both in post-paid and pre-paid.
Now its pre and post-paid customers can the avail this 3G service by paying just Rs 99 per month. This is the first initiative for the company.
According to company officials, after the state run BSNL, Reliance Communication has taken its step forward for this king of services in India.
The spectrum was reserved by RComin 13 circles, counting Delhi and Mumbai, this has made it the single operator with pan-India 3G ability in CDMA, and amongst the leading three with maximum 3G-enabled coverage.
It has been reported that about Rs. 8,585.04 crore was paid by Reliance Communications to the Government towards safeguarding the 3G spectrum.
It is said that the last date for making payments for 3G spectrum by all telecom companies is today, counting PSUs BSNL and MTNL.
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