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Rajesh Sawhney, President, Reliance Entertainment at NDTV Convergence held the first edition of its New Media Congress in the Capital on May 8, 2008. Besides bringing together some of the best minds in the Internet and mobile domain under one roof, the Summit also highlighted the opportunities, challenges and the road ahead for India in the digital world. exchange4media.com and Livemint.com
are the media partners for the Summit. The summit panel comprised of eminent personalities like Mr Azhar Rafee, EVP, Reuters Asia; Mr Kim Reid, CEO-Mobile, MIH Nasper; Martha BÃ©jar, Corporate Vice President, Communications Sector-Microsoft Corp; Mr Ajit Balakrishnan, Chairman, Rediff; Mr Rajesh Sawhney, President, Reliance Entertainment; Mr Jai Menon, Group CIO, Bharti Airtel; Mr Lloyd Mathias Marketing Director, India & South West Asia, Motorola; Mr Kevin Obi, Sr Vice President, Digital Assets, NBC Universal International; Mr Pankaj Sethi President, VAS & Enterprise Market Planning, Tata Teleservices Ltd; Mr Rohit Sharma, Chief Operating Officer, Zapak Digital Entertainment. The sessions were chaired by Mr Vir Sanghvi, Advisory Editorial Director, HT media Ltd, Mr Vikram Chandra, CEO, NDTV Networks; Mr Sanjay Trehan, CEO, NDTV Convergence and Mr Anurag Batra, Managing Director, Exchange4media.
Mukesh Ambani, India’s wealthiest resident, is building a 60-story vertical palace in Mumbai, complete with a helipad, swimming pool and space to park about 170 cars.
Plan of Mukesh Ambaniâ€™s new house Antilia (or Antillia) at Altamount Road, where real estate prices are now in the region of Rs 75,000 per sq ft, began in late 2006, and the first six floors are already in place now. The building is expected to be complete in September 2008.
Antilia (or Antillia) is a phantom island said to lie in the Atlantic Ocean far to the west of Spain. This mythical island had several other names such as Isle of Seven Cities, Ilha das Sete Cidades (Portuguese), Septe Cidades, Sanbrandan (or St Brendan), etc. Antilia was also identified with islands including the Isles of the Blest and the Fortunate Islands.
Reliance Industries Ltd, has paid $3.45 million (Rs 14.56 crore) in cash to Uranium Exploration Australia Ltd (UXA) to acquire 49 per cent interest in four of the latterâ€™s exploration licences in South Australia.
The payment follows an approval from the Australian as well as the South Australian governments for a â€˜farm-in and joint venture agreementâ€ between UXA and RIL Australia.
Reliance, as part of the agreement, will also pay back 49 per cent of the exploration expenditures on the four exploration sites between July 2007 and January 2008.
It will also foot 49 per cent of the expenses for all exploration expenditures on these sites in future, a statement on UXA Web Site said.
Besides, Reliance will also get 49 per cent interest in four other sites in Australiaâ€™s Northern Territory if the current licence applications for exploration licences by UXA are found to be in order.
In October last, Reliance had entered into a partnership agreement with UXA. This agreement commits Reliance to make investments along with UXA as and when the markets open up for uranium trade, according to trade sources. According to UXA, Reliance has committed itself to investing $12.9 million (Rs 55 crore) over the next three years following the agreement.
UXA recently discovered uranium in the Northern Territory. The discovery is some 360 km northwest of Alice Springs and the company said it was â€œwell funded in its exploration programmeâ€ including Relianceâ€™s investments.
The Reliance-UXA agreement is an interesting development, coming on the heels of an announcement by the Anil Dhirubhai Ambani Group (ADAG) that Reliance Energy was looking at possibilities of setting up nuclear power stations.
Reliance investment in Australia is looked as part of rising investments by Indian companies, looking for mineral resources to augment raw materials supply.
Gujarat NRE coke has invested in three coal mines to ensure its supply, while Aditya Birla Minerals Group, an arm of Hindalco, operates two copper mines.
Simiarly, the Bangalore-based Mineral Resources Ltd has formed a 50:50 joint venture with Lincoln Minerals for mining in South Australia. Besides, Tata Steel has entered into a joint venture with Riversdale Mining for coal exploration in Mozambique.
Read more: http://www.thehindubusinessline.com/2008/05/28/stories/2008052852230100.htm
MUMBAI: are set to open lower on Monday in line with Asian peers as rising oil prices and its impact of inflation will continue to weigh on investor sentiment. Analysts anticipate further weakness this week.
â€œThe current range for Nifty is 4850-5080. Breakout of the band on the lower side and violation of 4720 would increase the probability of markets testing January â€˜08 and March â€˜08 lows,â€ cautions Bharat Dalal, fund manager at Dawnay Day AV Services.
South Africaâ€™s MTN and Anil Ambani owned Reliance Communications may shortly announce that they are in exploratory talks for an alliance. According to banking sources, discussions between the two began last week. MTN has offered RCOM a structure similar to the one that Bharti turned down.
In another development, Reliance Communications is close to take over London based global network operator VANCO. The bids for the buyout were made on Friday.
Petrol, a fuel used primarily by urban consumers could soon be selling at market prices. This would mean an increase of Rs 10-16 per litre at current prices. Officials told ET that a proposal to sell petrol at market prices, while keeping diesel, cooking gas and kerosene at subsidised rates was under consideration.
Mid-size technology services and IT engineering company firm Rolta is learnt to be close to acquiring a US based IT firm in the area of business intelligence. The firm has been searching for an asset that will add to its skills on the IT side and complement its core strengths in information systems and engineering.
Read more: http://economictimes.indiatimes.com/Stocks_to_buy/Stocks_to_watch_Reliance_Communications_Reliance_Power/articleshow/3072391.cms
Reliance Globalcom, subsidiary of Reliance Communications, has signed an agreement to acquire UK-based global managed network services provider Vanco Group. The acquisition of Vanco would add USD 365 million to the annual revenue of Reliance Globalcom through secure long-term contracts with large enterprise customers. Under the acquisition agreement, Reliance Globalcom will pay USD 76.9 million to acquire Vanco Group free of debt. Reliance Globalcom, through this acquisition, would add nine network management centres to its integrated global service systems and processes. Reliance Globalcom’s sales and channel organisation structure would further enhance its customer delivery capabilities in US, UK, France, Germany, Benelux, Singapore and Australia.
Reliance Communications, Indiaâ€™s second-largest mobile company, wants to forge a grand strategic alliance with MTN, Africaâ€™s largest wireless group, that would cover a third of the worldâ€™s population but fall short of a full merger of the two emerging markets groups.
The companies said yesterday that they had entered exclusive talks, â€œwith respect to a potential combination of their businessesâ€. Between them they have a customer base of more than 116 million subscribers, annual revenues of $14 billion and strong footholds across India, Africa and the Middle East. Combined, the pair would form the fourth largest operator in the world â€“ behind China Mobile, Vodafone and China Unicom.
They also played down speculation of an equity swap between the two businesses. Instead, Reliance hopes to agree a â€œclosely-knit contractâ€ under which the two groups will work closely on issues such as sharing their infrastructure resources, which currently cover about 2 billion people.
The Indian company stepped in after its larger rival, Bharti Airtel, pulled out of talks to buy sub-Saharan Africa’s biggest mobile operator.
Media and analysts had speculated that Bharti was eyeing a 51pc stake in MTN - with Bharti pulling out of talks after the South African firm suggested that it become an MTN subsidiary.
The combination of the $38bn MTN and Reliance, valued at $28bn, would create a top 10 industry player to rival Japan’s NTT in market value. Shares in Reliance fell as investors worried about the costs of a deal while MTN stock fell as much as 7.6pc. Investors were expecting a healthy premium from a Bharti buyout.
Reliance and MTN said earlier that the two groups had entered into exclusive talks about potentially combining. A 45-day exclusivity period will be in force, during which neither can talk to any other entity.
Read more: http://www.telegraph.co.uk/money/main.jhtml?view=DETAILS&grid=&xml=/money/2008/05/27/cnmtn127.xml
Anil Ambani, the billionaire behind Reliance Communications, the mobile group locked in talks with MTN, its South African peer, is one half of Indiaâ€™s best-known, and most combative, business double acts.
In 2005 Mr Ambani, Indiaâ€™s second-richest man, formed Reliance Anil Dhirubhai Ambani Group from an inherited portion of the sprawling commercial empire created by his father, Dhirubhai Ambani. The other part of the parent company went to Indiaâ€™s richest man â€“ Mukesh Ambani, Anilâ€™s brother.
The split followed a very public feud between the siblings, halted only by the intervention of their mother. Relations between the pair remain fraught â€“ they both own a share of the same building in Bombay but are said to have separate lifts to avoid running into each other.
At the time of the company division, it appeared that Anil, 48, was destined to remain in his elder brotherâ€™s shadow. The side of the original business that Anil was awarded was worth far less than Mukeshâ€™s; Anilâ€™s reputation as a dealmaker was not as great. The younger Ambani looks to have taken that situation as a provocation.
This year he cemented his status as one of Indiaâ€™s most-fÃªted magnates. In January it took only one minute for investors to subscribe fully Reliance Powerâ€™s $3 billion IPO, Indiaâ€™s biggest. When the Indian stock market slid only days after the float, Mr Ambani took steps to pare the losses suffered by retail investors â€“ a move that went a large way to preserving his public image.
JOHANNESBURG/MUMBAI, May 26 (Reuters) - South Africa’s MTN Group (MTNJ.J: Quote, Profile, Research) has started talks with Indian mobile operator Reliance Communications (RLCM.BO: Quote, Profile, Research) that could create a $66 billion emerging markets telecoms group.
Indian number two Reliance quickly stepped into the void after bigger rival Bharti Airtel (BRTI.BO: Quote, Profile, Research) pulled out of talks with MTN at the weekend aimed at taking control of sub-Saharan Africa’s biggest mobile operator.
A combination of MTN, valued at $38 billion at Friday’s close, and Reliance, valued at $28 billion, would create a top ten global industry player to rival Japan’s NTT DoCoMo Inc (9437.T: Quote, Profile, Research) in market value. In terms of subscribers, a merged group would slot in just below Deutsche Telekom (DTEGn.DE: Quote, Profile, Research) — as the seventh biggest in the world.
A source with knowledge of the negotiations said Reliance would not be looking for the same structure as Bharti in the deal. Media and analysts had speculated that Bharti was eyeing a 51 percent stake in MTN and Bharti said it had pulled out of talks after the South African firm suggested it become an MTN subsidiary. [ID:nBOM261203]
Shares in Reliance fell as investors worried about the costs of a deal while MTN stock fell as much as 7.6 percent. Investors were expecting a healthy premium from a Bharti buyout.
MTN is seeking new markets outside Africa and the Middle East and will likely push to retain its brand and culture.
“Whatever the shape of the company moving forward, there is little doubt that the retention of the MTN brand and culture would be two of the most important aspects executive management and shareholders should ensure,” Frost & Sullivan analyst Lindsey Mc Donald said.
Reliance Communications Ltd., Indian billionaire Anil Ambani’s mobile-phone company, is in talks to acquire a stake in MTN Group Ltd., the Business Standard reported on its Web site, citing people it didn’t identify.
Reliance began talks Thursday to acquire a majority stake in MTN, the newspaper said. Mumbai-based Reliance spokesman Anuj Bakshi declined to comment on the report, which said Reliance first held talks with MTN last year.
Bharti Airtel Ltd., Reliance Communications‘ rival and India’s largest mobile-phone operator, said earlier today its merger talks with Johannesburg-based MTN, Africa’s largest mobile-phone company, failed and that it was ending the effort.