SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Nortel Networks (NT)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Glenn D. Rudolph who wrote (242)10/31/1997 10:07:00 AM
From: Roman  Read Replies (1) of 14638
 
Friday October 31 2:12 AM EST

India Tata to sign phone licence on Nov 4

NEW DELHI, Oct 31 (Reuters) - India's Tata Teleservices Ltd (TTL) said on Friday it would sign a
licence agreement for phone services in the southeastern state of Andhra Pradesh with the Department of
Teleocommunications (DoT) on November 4.

''There are a few last-minute things that we need to iron out with our bankers. We have told DoT that we
will sign it on Tuesday. They have agreed to it,'' Zahid Baig, a dicector at TTL told Reuters. TTL was due
to sign the licence on Friday.

TTL is a consortium of India's Tata group, Canada's BCE Inc (BCE.TO) and American International
Group (AIG) of the United States. The firm will have an equity capital of $500 million and the Tatas will
hold 30 percent equity, Baig said.

India auctioned fixed phone licences in late 1995, as part of an economic liberalisation programme that
started in 1991. TTL was shortlisted for the Andhra Pradesh licence in early 1996. Only three companies
have signed licences so far out of eight shortlisted.

Baig said TTL had paid DoT performance and financial guarantees worth one billion rupees ($27.48
million), and would pay 1.2 billion rupees on November 4 as the first instalment of licence fees.

TLL plans to invest $900 million in the first three years of operation to install 300,000 phones, he said.
Northern Telecom Ltd (NTL.BO) and Lucent Technologies Inc (LU) are TTL's preferred equipment
suppliers, he added.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News