The Hindu Business Line : Thursday, June 26, 2008

TELECOMMUNICATIONS
Security agencies reject software for snooping into BlackBerry
New Delhi, June 25 Rejecting any temporary solution to the BlackBerry controversy, Indian security agencies have told the Government that it must make sure that traffic originating and terminating on the device should not travel outside the ... More

TAXATION
Income-tax law only covers cos incorporated in India: Vodafone
Mumbai, June 25 Telecom operator Vodafone said that the Income -tax laws in the country do not have “extra-territorial jurisdiction” and hence the company cannot be expected to pay capital gain taxes on payments made to Hutchison ... More

MERGERS & ACQUISITIONS
Idea Cellular snaps up Spice
To pay Rs 2,176 cr for 40.8% stake; open offer at Rs 77.30 a share More

Non-compete fee, almost 25% of offer price
Mumbai, June 25 Idea Cellular, which is buying 40.8 per cent stake in Spice Communications, will pay an additional Rs 544 crore to the promoters of Spice group as ‘non-compete fee’. A section of analysts sees it as a way of ... More

Modi Group turns focus on new business sectors
Spectrum crunch, lack of opportunities lead to Spice stake sale More

Buyout to Spice up Idea infusion from TMI at huge premium
BL Research Bureau The long speculated sell-out of Spice Communications has finally materialised, with Idea Cellular buying out the company’s promoters and proposing a merger of the latter’s operations with itself. The deal ... More

ALLIANCES & JOINT VENTURES
Satyam, Rockwell Automation tie-up
Satyam Computer Services Ltd has tied up with Rockwell Automation India, a wholly owned subsidiary of Rockwell Automation Inc. The partnership will give Satyam a preferred status to conduct systems integration assignments as an Engineering ... More

VENTURE CAPITAL
Inventus to invest $125 m in early-growth companies
More

OUTLOOK
Infosys ends down on fear of losing UBS
Brokerages expect challenging times ahead More