PANEL SUGGESTS Rs1,000-CR INFUSION TO KEEP A-I AFLOAT
Article Abstract:
The Disinvestment Commission has recommended a capital infusion of Rs1000 crore into Air-India (A-I) that will increase its capital base to Rs1154 crore. This infusion is to prevent A-I from total sickness as it would result in total dominance of traffic in and out of India by foreign airlines. The Commission has also suggested diluting government in A-I by 60 percent and bringing in strategic partners, comprising of Indian investors and international airlines. These investors are to be given Rs770 crore worth of equity. International investors are to be given 75 percent of the fresh capital that is to be issued while Indian investors are to be given 25 percent. This will ensure that overall Indian holding remains at 50 percent and A-I continues to be a designated airline, as per international rules. (khr)
Comment:
Disinvestment Cmsn recommends capital infusion of Rs1000 crore into co that will increase capital base to Rs1,154 crore
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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GLOBAL MOBILE SATELLITE OPERATIONS GET NOD
Article Abstract:
The government has given permission for global mobile personal communications (GMPCS) by satellite in India. The GMPS technology allows a subscriber to have a universal telephone number irrespective of his location. Irridium, ICO and ASC have already been given the letter of intent to operate the services in India. Foreign equity in the licencee companies has been limited to 49 percent in the new policy. The Telecom Regulatory Authority of India will decide on the tariff for the services and other issues related to interconnection between GMPCS operators and the Department of Telecommunications. (khr)
Comment:
India: Government has given permission for global mobile personal communications by satellite in country
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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