Briefly Business: Telcos that lost 2G licence may not get to bid in auction

Telecom companies with their license cancelled may not get another chance to bid for spectrum.

New Delhi | Published:October 6, 2013 1:25 am

Telecom companies whose 2G permits were cancelled by the Supreme Court may not get another chance to bid for spectrum in the next round of auction,according to official sources. The Telecom Commission has accepted the recommendation by a committee of the Department of Telecommunications to remove the eligibility rule that allowed such firms to participate,the sources said.

PE firms eye 24% in Bombay Dyeing

Mumbai: At least three global private equity firms are in talks to acquire up to 24 per cent stake jointly in Bombay Dyeing,according to merchant banking sources. The deal could be valued at over Rs 500 crore,they said,adding that the exclusivity period of the due diligence is likely to end in next few days.

India,Sri Lank to sign pact for power project

New Delhi: India and Sri Lanka will on Monday sign agreements for a 500 MW thermal power project to be jointly developed by state-owned NTPC with a local partner in the island nation. The Sri Lanka project,would be developed by Trincomalee Power Company,an equal stakes joint venture between NTPC and Ceylon Electricity Board (CEB).

‘India 11th best for MNC headquarters’

New Delhi: India hosts about 158 large global firms having a revenue of $1 billion or more,making the country the 11 most favoured destination for setting up headquarters,says a report by McKinsey Global Institute. PTI

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