Spice issue: Idea gets Rs600 cr penalty notice

The company is preparing to take necessary steps to challenge the DoT letter at appropriate forum,it said.

As per the rules,a telecom operator cannot hold more than 10 per cent stake in another operator in the same circle. Spice was amalgamated with Idea in March 1,2010,after approval by the Gujarat High Court on November 26,2009,and the Delhi High Court on February 5,2010.

It added the Delhi High Court passed an order on July 13,2012,asking DoT to give its final decision on transfer of operational Spice licences of Punjab and Karnataka in the name of Idea. At the time of the merger,the companies had licences for Andhra Pradesh,Delhi,Haryana,Maharashtra,Punjab and Karnataka.

Airtel mops up 750 mn euro

Mumbai: Bharti Airtel has mopped up euro 750 million from an international bond sale as it readies for the spectrum auction next month,merchant bankers said.

The telecom firm raised the money at a coupon of 4.05 per cent for the five-year paper,they said. This is the third bond issue by the firm this calendar year.

The latest money has been raised through Bharti Airtel International Netherlands BV. pti

Trai relaxes penalty on pesky calls

New Delhi: Telecom operators will not be penalised for up to 50 complaints received against them in a week for pesky calls and SMSes from their networks.

Telecom regulator Trai has relaxed penalty norms under which it will impose fine based on new a slab instead of levying Rs 5,000 fine on every pesky call and SMS complaint received. pti