RCom gets green signal from bourses on Sistema deal

New Delhi

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Telecom major Reliance Communications (RCom) on Thursday said stock exchanges Bombay Stock Exchange and National Stock Exchange have given their go-ahead to its deal to acquire Russian conglomerate Sistema's Indian telecom unit, Sistema Shyam Teleservices Ltd (SSTL). As per the deal, SSTL will hold about 10% stake in RCom and pay off its existing debt before closing the deal. TNS

Chandigarh

Fully automated system at Punjab Roadways depot

Oil PSU IndianOil Corporation (IOC) has installed fully automated system at Punjab Roadways Depot in Chandigarh. It would ensure comprehensive fuel management while eliminating any chances of misuse, theft and fuel loss. The facility was inaugurated by Ashwani Kumar, Director (Transport), Punjab, in the presence of senior IOC officials on Wednesday. TNS

Chandigarh

Idea expands 4G services to four more states

Idea Cellular on Thursday announced the launch of its high speed 4G LTE services across four more states in India — Punjab, Haryana, Madhya Pradesh and Chhattisgarh. With this launch, the company has expanded its 4G LTE service footprint to seven telecom service areas, including four telecom circles of South India — Andhra Pradesh and Telangana, Karnataka, Kerala and Tamil Nadu and Chennai. TNS 

New Delhi

FIPB clears FDI proposals worth Rs 6,050 crore

The Foreign Investment Promotion Board (FIPB) has approved five foreign investment proposals to the tune of Rs 6,050 crore, including a Rs 5,000-crore plan of Cadila Healthcare for fresh equity infusion. TNS