Business Daily from THE HINDU group of publications Monday, Aug 14, 2006 |
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Info-Tech
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Telecommunications Aditya Birla Nuvo may withdraw application Thomas K Thomas
New Delhi , Aug. 13 The Department of Telecom may reject Aditya Birla Nuvo's application seeking a cellular licence for Mumbai on the ground that that the application submitted by Idea Cellular is on the verge of being cleared. Since Aditya Birla Nuvo has equity in Idea Cellular also, DoT will not give approval for both the applications simultaneously. As per the licence norms, a single company cannot hold more than 10 per cent stake in two different operating companies in the same circle. Aditya Birla had put in a separate application for Mumbai licence at a time when DoT was holding back Idea Cellular's application on account of the equity held by the Tata Group in Idea Cellular. Sources in Aditya Birla Group said that the application might now be withdrawn if Idea Cellular is given the licence since the Tatas have exited the company.
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