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Category: Communications

  • Digi invests €300M to expand Spain’s Fiber Network

    Digi invests €300M to expand Spain’s Fiber Network

    Romanian telecommunications group Digi Communications announced that it has completed a EUR 300 million investment with Aberdeen Group to develop the fiber optic network in Spain, which is now covering 2.5 million homes, Economica.net reported.

    “The Company informs the market that on October 1, 2025, Digi Spain Telecom and the investment vehicle part of Aberdeen Group completed the fourth round of investment for the development of an FTTH network covering 2,500,000 homes served in Andalusia, Spain, part of the transaction concluded on March 21, 2023. Therefore, the entire investment in the network, worth 300,000,000 euros, has been completed, being borne equally by Digi Spain and Aberdeen, also involving bank financing.”

    Last year, Digi took out loans of over EUR 130 million to expand its telecommunications networks in Romania, Spain, Portugal, and Belgium.

    In Spain, Digi offers mobile, internet, and landline services, and the plan is for its Spanish subsidiary to be listed on the Stock Exchange next year. Romania Insider

  • Vi, Airtel, Indus, Tata Comm Q2 results preview

    Vi, Airtel, Indus, Tata Comm Q2 results preview

    JM Financial expects telecom companies to post modest sequential growth in average revenue per user (ARPU) and revenue in the September quarter, depsite the ongoing subscriber upgrades and an extra day in the quarter. Ahead of the quarterly earnings, the domestic brokerage retained its ‘Buy’ rating on Bharti Airtel (target price: Rs 2,240), Bharti Hexacom (target price: Rs 2,000), and Tata Communications (target price: Rs 2,000).

    JM Financial maintained its positive view on Reliance Jio due to an expected 13 per cent CAGR in wireless ARPU over the next 3–5 years, supported by tariff hikes, premiumisation, and 5G adoption. Vodafone Idea’s rating has been upgraded to ‘Add’ from ‘Hold’, with a target of Rs 9.50, reflecting potential AGR relief. Indus Towers is downgraded to ‘Reduce’ from ‘Hold’ with a target price of Rs 340. the brokerage said.

    Jio’s ARPU is anticipated to rise 1.1 per cent QoQ to around Rs 211, with subscriber gains of 70 lakh, driving revenue and Ebitda growth of 2.4 per cent and 2.5 per cent QoQ, respectively. Bharti Airtel is projected to see 2 per cent QoQ growth in India wireless revenue and 2.1 per cent QoQ growth in Ebitda, led by strong mobile broadband subscriber additions (72 lakh) and a 1.6 per cent QoQ ARPU improvement to Rs 254.

    Bharti Hexacom is likely to report 2 per cent QoQ growth in wireless Ebitda on the back of healthy MBB subscriber additions (7 lakh) and a 1.6 per cent QoQ ARPU increase to Rs 250, JM Financial said.

    Vodafone Idea’s revenue, reported Ebitda, and cash Ebitda are expected to grow 0.8 per cent, 1.1 per cent, and 0.9 per cent QoQ, respectively, as ARPU improves 1.2 per cent QoQ to Rs 167. This could be partly offset by a net subscriber loss of 5 lakh million, though MBB subscribers may increase by around 10 lakh, JM said.

    Indus Towers is projected to see healthy net tenancy additions (6,100 in 2QFY26 vs 5,800 in 1QFY26), driven by Bharti’s rural expansion and Vodafone Idea’s network rollouts. While average rental per tenancy could decline 0.3 per cent QoQ due to sharing discounts on second tenancies, reported EBITDA may grow 0.3 per cent QoQ, with adjusted Ebitda rising 2.4 per cent QoQ after accounting for past dues recovery. Bharti Hexacom’s digital portfolio is expected to support.

    Tata Communications is seen reporting revenue and Ebitda growth of 1.2 per cent and 1.8 per cent QoQ, though core connectivity may be impacted by recoverability issues in the SAARC region. BusinessToday

  • SATCOM market in India poised for rapid expansion

    SATCOM market in India poised for rapid expansion

    Scindia stated that the SATCOM market in India is expected to double in the next couple of years. With three SATCOM licenses already issued, the Minister expressed optimism that the market will expand rapidly, potentially doubling in size over the next few years.

    “The future of SATCOM is that the pathway is already put in place. The regulation is in process. The licensing regime is expected to be implemented soon. We’ve already issued three SATCOM licenses. I’m very confident that our market should double in the next couple of years,” said, outlining the promising trajectory of India’s satellite communications sector.

    Scindia also highlighted India’s proactive approach in the global race for 6G technology.

    Reflecting on India’s past absence in earlier telecom generations, he said, “India started as opposed to not having a seat at the table. This time, India has started early. We didn’t have a seat at the table at 4. We didn’t have a seat at the table at 5. But we are early movers as far as 6G is concerned.”He revealed that India is actively engaged in the “standard setting, protocol setting process at 6G with ITU,” with “two, three of our (proposals) have been accepted,” including the concept of a “ubiquitous network.” Scindia also mentioned that there are “seven verticals between the two lines,” and that a “separate Gantt chart for launch in terms of the progress” is being used to ensure coordinated contributions to these standards.

    Although the timeline is governed by international bodies such as the ITU and STPB, he expects the 6G “standards and protocols” to be finalised by 2027-28, with execution — including equipment and chip manufacturing — slated for around 2030.

    Addressing the potential of 6G technology, Scindia noted the “multifarious use cases” emerging, such as AI applications, holograms, and surgical processes.

    However, he emphasised that “today is the time to talk about 5G use cases,” and promised that many of these will be showcased in upcoming exhibitions.

    Answering the question on Broadband India Forum (BIF) suggestion to create a separate license category for satcom to the centre, he stated, “That’s something that’s going to be discussed by TRAI. That’s the regulator. So I don’t interfere with the regulator’s mandate.” NewKerala

  • Anchor investors pump ₹3,475 cr into LG Electronics IPO

    Anchor investors pump ₹3,475 cr into LG Electronics IPO

    LG Electronics Ltd. is set to launch the second initial public offering by a South Korean company in India, seeking to tap into the investor appetite in the world’s third largest stock market.

    LG Electronics India IPO, one of the largest this year, is a pure offer for sale by its Korean parent. No fresh shares are being issued, meaning the company will not raise new capital through this offer. Here are the key details of the IPO, its structure, financials, and what analysts are saying.

    1. IPO size & structure
    LG Electronics India’s IPO, which is valued at ₹11,607 crore, will see the parent company offload 10.18 crore shares, or about 15% of its stake in the Indian subsidiary. This will bring down the parent’s shareholding to about 85% post-listing.

    The issue is being managed by a consortium of top merchant bankers, including Kotak Mahindra Capital, Morgan Stanley India, and JM Financial.

    2. Price band & valuation
    The company has set a price band of ₹1,080 to ₹1,140 per share. Based on this, the IPO values LG Electronics India at around ₹77,400-80,000 crore (approximately $8.7 billion). At the upper end, the issue is priced at a price-to-earnings multiple of around 47 times FY24 earnings, which analysts view as slightly rich compared with Indian peers such as Voltas Ltd., Havells India Ltd., and Blue Star Ltd.

    3. Anchor book
    Before the public issue, LG Electronics India raised ₹3,475 crore from anchor investors by allotting 3.04 crore shares at ₹1,140 apiece.

    Major global and domestic institutions—including Abu Dhabi Investment Authority, Goldman Sachs, BlackRock, Government of Singapore, SBI Mutual Fund, and HDFC Mutual Fund—participated in the anchor book.

    Analysts see this strong anchor participation as a vote of confidence for the LG India IPO.

    4. Key dates
    The IPO opens for public subscription on 7 October 2025, and will close on 9 October. The basis of allotment is expected to be finalised by 10 October, and shares are likely to be listed on the BSE and NSE on or around 14 October 2025.

    Investors can bid for a minimum of 13 shares per lot, translating to a minimum investment of about ₹14,820 at the upper end of the price band.

    5. Issue allocation
    As per the standard IPO allocation structure, 50% of the issue is reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. The company expects robust demand across investor categories, given its dominant market position and strong financials.

    6. Company background and business performance
    LG Electronics India is among the country’s top consumer electronics and home appliance brands, competing with Samsung, Whirlpool, Godrej, and Voltas. It commands leadership in several categories, including washing machines, refrigerators, air conditioners, and televisions.

    The company has two major manufacturing facilities in Noida and Pune, with an expansive sales and service network covering thousands of distributors, dealers, and service centres across India.

    In FY24, LG Electronics India reported revenue of ₹26,782 crore and a net profit of ₹1,710 crore, with a steady compound annual growth rate of about 10% over the past three years.

    The company has also announced plans to expand its manufacturing footprint, including a new $600 million facility at Sri City in Andhra Pradesh, aimed at both domestic sales and exports.

    7. Financials
    According to its draft red herring prospectus, LG India has maintained operating margins of around 9–10%, comparable with peers in the white goods segment.

    The company’s return on equity (RoE) stood at 22.6% in FY24. It operates with minimal debt, benefiting from its strong cash flows and consistent profitability.

    However, analysts point out that margins could be under pressure due to fluctuations in input costs and foreign exchange volatility, given its dependence on imported components.

    8. Key risks
    High import dependency: Around 46% of raw materials are sourced from outside India, exposing the company to currency and supply-chain risks.

    Royalty payments: The Indian unit pays about 2.4% of sales as royalty to its Korean parent for brand and technology usage.
    Tax dispute: The company faces an ongoing ₹4,717 crore tax demand from Indian authorities, which could affect financials if not resolved favourably.

    Intense competition: LG faces pricing pressure from both multinational and Indian brands in key product categories.

    9. Grey Market Premium (GMP)
    The LG Electronics India IPO is commanding a grey market premium (GMP) of ₹250-270 per share, implying potential listing gains of about 22–25% over the issue price.

    Brokerages such as Angel One, Motilal Oswal, and Ventura Securities have issued “Subscribe” recommendations, citing strong brand recall, profitability, and long-term growth prospects.

    However, some analysts caution that the issue is fully priced, and investors should consider it primarily for long-term exposure rather than short-term listing gains.

    10. Strategic Outlook
    For LG Electronics, the IPO marks a significant step in giving its Indian arm independent public visibility and valuation. The listing could also help strengthen the company’s governance, local sourcing, and manufacturing ambitions under the government’s “Make in India” initiative.

    Industry experts see the LG India listing as a reflection of growing investor interest in consumer-durables businesses amid rising household incomes and electrification trends across India. If successful, LG India’s debut could pave the way for other multinational firms—such as Samsung and Whirlpool—to explore similar listings in India.

    The LG Electronics India IPO offers investors a chance to participate in one of India’s most trusted consumer brands. While the valuation appears slightly stretched, the company’s strong fundamentals, healthy balance sheet, and deep market penetration make it a solid long-term story in India’s fast-growing consumer electronics space. Hindustan Times

  • India considers One-Time settlement of Vi’s dues

    India considers One-Time settlement of Vi’s dues

    India is considering a one-time settlement of its longstanding demand for billions of dollars in past-due fees from Vodafone Group Plc’s beleaguered local venture, as the government seeks to strengthen ties with the UK, people familiar with the matter said.

    Resolution in the nearly 2 trillion rupees ($22.5 billion) financial dispute may come through a waiver of interest and penalties, followed by a concession on the principal for Vodafone Idea Ltd., said the people, who asked not to be identified as the discussions are private.

    A deal would throw a lifeline to India’s third-largest wireless operator, shore up competition in a sector dominated by Reliance Jio Infocomm Ltd. as well as signal to global investors that New Delhi wants to remedy its reputation for unpredictable policy measures.

    It’s also a calculated diplomatic gesture toward the UK soon after the two countries inked a trade pact and just as Prime Minister Keir Starmer prepares to visit India this week. With US ties fraying under President Donald Trump and relations with China just beginning to warm, India may use any settlement with Vodafone Idea to anchor the UK as a more dependable economic partner and show that it can be pragmatic when strategic interests demand.

    Indian officials are drafting the framework and also weighing steps to ensure any deal doesn’t spark legal challenges from other telecom operators that owe dues, the people said.

    Attract investors
    The arrears have hung over the joint venture formed by the merger of the British firm’s local unit with billionaire Kumar Mangalam Birla’s Idea Cellular Ltd. It hasn’t reported a quarterly profit since 2016. A settlement would potentially pave the way for the wireless carrier to attract new investors, the people added.

    Starmer’s scheduled visit has added urgency to the effort, one of the people said.

    A representative for Vodafone Idea and India’s telecom ministry did not respond to an email seeking comments on the resolution proposal.

    The Indian government, which became Vodafone Idea’s 49% shareholder this year through a debt-to-equity swap, has publicly acknowledged the need for a solution. A government counsel told the Supreme Court last month that “some solution may be required” given public funds are now tied up in the carrier.

    The dispute itself pertains to how India calculates annual adjusted gross revenue (AGR), a share of which is paid as license and spectrum fees. While telecom carriers have challenged the method for years, the court may be more receptive this time if the government shifts its stance, one of the people said.

    No unfair advantage
    To be sure, officials will have to ensure that all telecom operators are treated fairly in the process of granting AGR relief — Sunil Mittal’s Bharti Airtel Ltd. and the Tata Group’s wireless carrier have also been seeking relief. One option under discussion is to seek revival plans from all operators in exchange for any concession, ensuring that Vodafone Idea isn’t given an unfair advantage over peers.

    Vodafone Idea has been in urgent need of capital infusion and any potential deal with a new partner hinges on clarity around the AGR burden, the people said.

    If New Delhi proceeds with a solution, it would mark the most significant intervention yet in India’s telecom sector since the government stepped in to take a near-majority stake in Vodafone Idea.

    The country’s top court on Monday deferred a hearing on the company petition challenging the AGR dues calculation to Oct. 13. Bloomberg

  • TikTok registration blocked in Indonesia over data rules

    TikTok registration blocked in Indonesia over data rules

    Indonesia said it has suspended TikTok’s registration status as an electronic system provider after it failed to hand over all data relating to the use of its live stream feature, though the social media app was still accessible to users on Friday.

    Alexander Sabar, an official at Indonesia’s communications and digital ministry, said in a statement some accounts with ties to online gambling activities used TikTok’s live stream feature during recent national protests and monetised it.

    Protests rocked the world’s third-largest democracy over exorbitant lawmaker allowances and police brutality from late August to September. TikTok temporarily suspended its live feature during the protests, saying this was intended to “keep TikTok a safe and civil space.”

    Sabar said the government subsequently asked the company for its traffic, streaming and monetisation data. The company, owned by China’s ByteDance, only provided partial data, citing its internal procedures, Sabar said.

    “So the communications and digital ministry deemed TikTok to have violated its obligations as a private electronic provider,” and suspended its registration, he said.

    The regulation regarding the list states every company that has signed up to Indonesia’s licensing rules must hand over its data to the government for the purpose of supervision or risk being blocked.

    It was unclear if access to TikTok in Indonesia was fully blocked. Reuters was able to access the application as normal. Reuters

  • BSNL-Tata tie-up brings eSIM connectivity across India

    BSNL-Tata tie-up brings eSIM connectivity across India

    BSNL has officially joined the ranks of Indian telecom operators offering eSIM services nationwide, in a strategic partnership with Tata Communications. This collaboration leverages Tata Communications MOVE, a GSMA-accredited eSIM subscription management platform, marking the first time a government-run telco has brought eSIM technology to its subscribers.

    Previously, only private players such as Jio and Airtel offered similar services, making BSNL’s move crucial for customers—especially government employees and those in rural or semi-urban areas—seeking the security and flexibility eSIMs provide.

    The eSIM rollout, initiated with a soft launch in Tamil Nadu, is now scaling pan-India. It supports 2G, 3G, and 4G networks and is tailored for smartphones that feature a single physical SIM slot alongside an eSIM, making it easier for users to manage multiple numbers and switch carriers remotely. It ensures safer provisioning, instant profile management, and seamless upgrades—directly from a smartphone, eliminating the need for physical SIM swaps or store visits. This is expected to drive eSIM adoption among millions of existing BSNL customers and attract tech-savvy users looking for modern connectivity solutions.

    Additional developments and strategic partnerships of BSNL

    • Network Expansion: The company has rapidly expanded its 4G network, rolling out indigenous tech solutions in partnership with TCS and Tejas Networks, and is preparing for an eventual 5G launch in select enterprise and rural markets.
    • Collaborations: Recent MoUs include tie-ups with India Post to expand SIM and recharge access via 165,000 post offices and with Delaplex for distributed cloud data centers.
    • Professional Training: Partnerships with Ericsson, Qualcomm, and Cisco have resulted in India’s first public sector 5G/AI/ML technology training center in Jabalpur, designed to train thousands of telecom professionals yearly.
    • Service Offerings: It introduced “BiTV Premium,” aggregating over 25 OTT apps and 450 live channels into a single digital bundle for broadband users, and launched VoWiFi calling to further strengthen in-building coverage.

    They are also is gearing up to tap India’s burgeoning digital payment segment with a new offering named BSNL Pay. In contrast to a separate app, the UPI-based service will be offered directly within their current Selfcare application, and therefore more accessible to the millions of subscribers. Promotional notifications within the app already hint at the upcoming feature: “Secure | Swift | Smart, directly through the their Selfcare App, powered by BHIM.”

    Financial performance
    For Q4 FY25, the company posted a profit of ₹280 crore, with full-year losses down by 58% to ₹2,247 crore from ₹5,370 crore in FY24. Revenues also increased to ₹20,841 crore for FY25. The government’s substantial capex support has fueled this turnaround, with over ₹47,000 crore allocated for further network upgrades and expansion into 4G/5G and enterprise solutions.

    E-SIM launch, in partnership with Tata Communications, is a game changer for India’s public telecom sector—creating new opportunities for digital access, multi-device flexibility, and government client outreach. Coupled with fresh investments in 4G, rural expansion, enterprise services, and digital broadcasting, the company is firmly back in the race to provide next-generation communications for India’s rapidly digitalizing population. Startupro

  • TikTok US stake sale: Oracle, Silver Lake in lead

    TikTok US stake sale: Oracle, Silver Lake in lead

    A group of three investors, including Oracle and private-equity firm Silver Lake, will take a roughly 50% stake in TikTok U.S., a source familiar with the deal said on Thursday.

    A group of existing shareholders in TikTok’s Chinese parent, ByteDance, will hold a roughly 30% stake, the source said. Among ByteDance’s current investors are Susquehanna International Group, General Atlantic and KKR.

    Given intense investor interest in TikTok, the 50% stake may still shift, the source noted.

    Oracle and Silver Lake did not immediately respond to a Reuters request for comment.

    U.S. President Donald Trump is expected to sign a TikTok deal later on Thursday that would divest the app’s U.S. operations from ByteDance, ending months of uncertainty over its future in the country.

    The agreement on TikTok’s U.S. operations includes ByteDance appointing one of seven board members for the new entity, with Americans holding the other six seats, a senior White House official said on Saturday.

    ByteDance would hold less than 20% in TikTok U.S. to comply with requirements set out in a 2024 law that ordered it shut down by January 2025 if its U.S. assets were not sold by its China-based owner ByteDance.

    CNBC reported earlier that Abu Dhabi-based MGX, Oracle and Silver Lake are poised to be the main investors in TikTok U.S. with a combined 45% ownership, citing sources.

    MGX did not immediately respond to a Reuters request for comment on the CNBC report.

    MGX is an artificial intelligence investment firm and a partner of Silver Lake, and falls under the purview of Sheikh Tahnoon bin Zayed Al Nahyan, the United Arab Emirates’ national security adviser and brother of the President Mohamed bin Zayed Al Nahyan. Reuters

  • BSNL ‘Swadeshi’ 4G network launch by PM Modi

    BSNL ‘Swadeshi’ 4G network launch by PM Modi

    Prime Minister Narendra Modi will unveil state-owned BSNL’s ‘Swadeshi’ 4G network, marking India’s entry into a coveted league of nations that produce and manufacture telecom equipment. The India-made network is cloud-based, future-ready and can upgrade seamlessly to 5G, Telecom Minister Jyotiraditya Scindia said.

    BSNL’s 4G stack will be rolled out on September 27 across close to 98,000 sites in the country, the minister said, adding that simultaneous launch will happen across multiple states, alongside. The PM will inaugurate the network in Jharsuguda, Odisha, he added.The minister will be in Guwahati for the launch.

    ‘This is a new era for the telecom sector, an era where India has entered into the domain of top countries, which produce and manufacture telecom equipment, which includes Denmark, Sweden, South Korea, China…India is now the fifth country,’ Scindia said.

    The PM will also unveil India’s 100 per cent 4G saturation network through digital Bharat Nidhi, where 29,000 to 30,000 villages have been connected in a mission mode project, the minister said. PTI

  • AGR dues ruling deferred by SC to oct 6

    AGR dues ruling deferred by SC to oct 6

    The Supreme Court has deferred its AGR dues verdict to October 6. This comes after the Centre asked for more time from the top court.

    Previously, the SC had deferred its hearing from last week on September 19 to today, September 26.

    The stock has closed at a price of ₹8.04 on Friday, down 7.4% from last closing price after the SC deferred its hearing.

    During the Supreme Court hearing last week, the Centre said it does not oppose Vodafone Idea’s plea on the adjusted Adjusted Gross Revenue (AGR) dues. However, some solution was required as the Centre too is an equity holder in the company.

    The Supreme Court had observed there had to be some finality to the proceedings and deferred the plea to Friday, September 26.

    The Centre is the largest shareholder in Vodafone Idea as it holds a 49% stake in the company. However, it is not classified as a promoter.

    Earlier this year, Central government ministers had told CNBC-TV18 on separate occasions that the Centre was not looking at extending further relief to Vodafone Idea and nor does it have plans to convert it into a public sector undertaking (PSU). CNBC-TV18