SATELLITE SECTOR SET FOR REFORMS, FOREIGN COS MAY GET 100% STAKE
Article Abstract:
The Government of India plans to allow global participation in the Indian satellite communication sector. It is now considering 100 percent foreign ownership of Indian satellites. These satellites can be used to provide telecommunication and broadcasting services. They can also be used for direct-to-home services. The foreign firms will have to seek the approval of the Foreign Investment Promotion Board (FIPB) for owning the satellites. They will also have to reduce their holdings to 74 percent in 5 years. The foreign companies will also have to secure the licence and permission from the concerned authorities of the Government of India. (ag)
Comment:
India: Government plans to allow global participation in the Indian satellite communication sector
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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INMARSAT IN ONE-UP GAME WITH $2.5-BN PROJECT
Article Abstract:
The International Mobile Satellite Organisation (Inmarsat) proposes to invest $2.5 billion on the Horizon, its new project. Inmarsat will be launching 4 more geo-stationary satellites under the Horizon. These will help it provide high- speed 144 kilobytes per second bandwidth by 2001 AD. India and the other membercountries are expected to join this project. Inmarsat plans to provide wider bandwidth 2-way transmission of high-speed voice and data through this project. (ag)
Comment:
India: International Mobile Satellite Organisation proposes to invest $2.5 bil on the Horizon, its new project
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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IITL PLANS $100-M ADR WITH IRIDIUM LLC SUPPORT
Article Abstract:
Iridium India Telecom Ltd (IITL) is a subsidiary of Iridium LLC (ILLC). ILLC is a global telecommunication company. IITL plans to float American Depository Receipts (ADRs) to net about $100 million. The issue will be supported by ILLC, the 18-member consortium headed by Motorola, to offer global mobile telecommunication service using satellite network. Motorola holds 20 percent stake in IITL and various financial institutions and finance companies the rest. (gs)
Comment:
Plans to float American Depository Receipts to net about $100 mil
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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