Tata Group to sell stake in TTML to comply with SEBI norms (India)

The Tata Group has decided to sell 1 per cent stake in Tata Teleservices (Maharashtra) Limited (TTML) to ensure compliance with the Securities and Exchange Board of India’s (SEBI) new public shareholding norms. The new norms require listed private companies to have a minimum public shareholding of 25 per cent. At present, the promoters hold 77.72 per cent stake in TTML while the remaining is held by the public. The group will put up 18,971,968 shares for sale. In May 2013, the group had cancelled its offer for sale of 2.72 per cent stake in TTML due to lack of investor interest.

MTNL plans bond issue

Mahanagar Telephone Nigam Limited (MTNL) is planning to raise up to Rs 19.95 billion through a bond issue in end-June 2013. The operator will issue sovereign-guaranteed bonds with a term of 10-15 years. It intends to use the proceeds to fund its capex requirements and reduce its debt. In March 2013, MTNL had raised Rs 10.05 billion through the sale of 10-year bonds.

Tower Vision to sell its towers to ATC

Tower Vision is likely to sell its tower portfolio to the US-based American Tower Corporation. Tower Vision currently owns 8,000 towers in India. The deal is expected to be finalised by end-July 2013. The towers are being valued at about Rs 4 million each, taking the total deal value to Rs 32 billion.

Liquid Telecom acquires Rwandatel’s fixed line infrastructure (Mauritius)

Mauritius-based Liquid Telecom has signed an agreement with operator Rwandatel to acquire the latter’s public switched telephone network and fibre infrastructure for $4 million. Liquid Telecom will, however, not buy the land assets that were also put up for sale. Following the transfer of assets, Rwandatel’s existing fixed line customers will continue to avail of services. Moreover, Liquid Telecom will restore the core network and build an access network to serve Rwanda’s customers and enterprises. Rwandatel had put up its fixed line infrastructure for sale in April 2013. It had sold its mobile tower infrastructure to Bharti Airtel for $15.5 million in April 2012.

Mobily initiates talks to acquire stake in GO Telecom (Saudi Arabia)

Saudi Arabia-based Etihad Etisalat (Mobily) has initiated talks with fixed line and broadband operator Etihad Atheeb Telecom (GO Telecom), to acquire a stake in the latter. The two companies have signed a non-binding agreement and are expected to take a decision on the deal by June 30, 2013. At present, Saudi Arabia’s Atheeb Trading Company holds 25 per cent stake in GO Telecom, the Al-Nahla Trading Company holds 13.7 per cent and Bahrain’s Batelco 15 per cent while the remaining is public owned. In December 2012, Mobily and GO Telecom signed an MoU to extend their cooperation in the area of service integration, under which Mobily would provide GO Telecom access to its Saudi National Fibre Network and gain access to GO Telecom’s fixed line infrastructure.

NTT DOCOMO pares its stake in Robi Axiata (Japan)

Japan’s NTT DOCOMO has decided to reduce its stake in Bangladesh-based operator Robi Axiata from 30 per cent to 8 per cent, citing an unsupportive regulatory environment and business uncertainties as the key reasons. Robi’s majority stakeholder, Malaysia-based Axiata, will acquire the 22 per cent stake, which will increase its holding to 92 per cent. The deal is subject to legal and regulatory approvals. Bangladesh’s telecom sector is facing several regulatory issues related to value added tax rebates on 2G and 3G licences as well as 2G licensing rules. NTT DOCOMO became a shareholder in Robi in September 2008 after acquiring A.K. Khan & Company’s 30 per cent share for about $350 million.

NTT DOCOMO completes acquisition of MCV Broadband

NTT DOCOMO has completed its acquisition of MCV Broadband, a supplier of cable TV, telephony and high speed internet services in Guam and the Commonwealth of the Northern Mariana Islands. NTT DOCOMO had agreed to buy MCV Broadband from Seaport Capital for $129.8 million in August 2012 and the deal had received approval from the Public Utilities Commission in December 2012. The acquisition will enable its Guam-based subsidiary DOCOMO Pacific to provide MCV’s cable TV, internet and fixed line phone services as quadruple-play offerings. Also, DOCOMO Pacific intends to strengthen its mobile network capacity by leveraging MCV’s optical fibre network.

Etisalat Nigeria secures $1.2 billion loan to refinance its debt (Nigeria)