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From: frmrVZguy7/10/2018 1:28:15 PM
   of 252
 
India News Tikona Bharti Airtel M&A approved by NCLT over ownership and assets dispute. DoT next.
Tikona stated to be debt-free and planning to double size - appears to operate as an MVNO providing BWA/FWA on Bharti Airtel after sales of all assets besides employees. Expect roaming across entire Bharti Airtel network worldwide including Africa. Bharti Airtel also operates a JV with Verizon of USA for CDN and content - some of which is USA sourced - also India and China - ala Netflix.

Tailwind?
FYI
FWIW

TODAY'S REFERENCE
telecom.economictimes.indiatimes.com
NCLT clears Bharti Airtel's Tikona acquisition
The alliance will now need the approval of the Department of Telecommunications (DoT).
ETTelecom | July 10, 2018, 21:05 IST
MUMBAI: The National Company Law Tribunal (NCLT) has given its nod to the merger of Bharti Digital Networks (formerly called Tikona Digital Networks) with Bharti Airtel. The NCLT in its Tuesday order stated that under the scheme of amalgamation, all the property, rights and powers of Bharti Digital Networks will now be transferred to Sunil Mittal owned company. A similar transfer will happen of all the liabilities, duties and proceedings that are by or against Bharti Digital Networks . "In view of absence of any other objections , having been placed on record before this Tribunal and since all the requisite statuary compliances having been fulfilled, this Tribunal sanctions the scheme of amalgamation...with the company petition as well as the prayer made therein ", said the order . The alliance will now need the approval of the Department of Telecommunications (DoT)... Acquisition of Tikona gives Bharti Airtel access to the former’s 4G spectrum in five circles-—Gujarat, UP (East), UP (West), Himachal Pradesh and Rajasthan... ET had earlier reporte(d) that the Tikona deal, which includes taking on debt of Rs 500-600 crore, will see Airtel net 100 MHz of 4G spectrum in the 2300 MHz (4G) band equally split across the five circles, taking its total 4G holding to close to 880 MHz (including Telenor India), compared with 1,169 MHz for Jio and 1,089 MHz for the Vodafone-Idea combine. It will also get 350 cell sites in those five circles but won’t take on any employees of Tikona..

OLDER REFERENCES

economictimes.indiatimes.com
Airtel deal will make Tikona debt-free: CEO Updated: Mar 28, 2017, 01.01 AM IST NEW DELHI: Tikona Digital will be a debt free company and will have ample opportunity to expand its fixed broadband services in the home, small, medium and large enterprise segment to double its business in the next 18 to 24 months once it completes its divestment of 4G business, Prakash Bajpai, chief executive officer of Tikona Digital, told ET. “After the transaction, Tikona will perhaps be a rare example of a debtfree company in the telecom or data space with enough resources to grow. While the industry remains focused on the larger pie of mobile voice and data services, Tikona has ample opportunity to cater to the fixed broadband services,” Bajpai said...

telecomtalk.info
Tikona Hopes to Double Fixed Broadband Services Business After Airtel Deal: Report Tikona Digital, which last week inked an agreement to sell 4G spectrum and business to Bharti Airtel, is now hopeful of doubling its fixed broadband services business in 18 to 24 months by expanding its reach in the market... STORY FIRST PUBLISHED ON: March 27, 2017 at 6:00 pm

telecom.economictimes.indiatimes.com
Tikona will have enough resources to grow after Airtel deal: Prakash Bajpai, CEO Tikona Digital’s current business and assets will be moved to Tikona Infinet, which will become an integrated data services operator to the home, enterprise and public wifi markets. ETTelecom | March 27, 2017, 09:25 IST NEW DELHI: Tikona will be a debt free company in telecom space with enough resources to grow after the completion of sale of its 4G business to Bharti Airtel, according to Prakash Bajpai, chief executive officer of Tikona. In an interaction with ET’s Danish Khan, Bajpai said that Tikona Digital’s current business and assets will be moved to Tikona Infinet, which will become an integrated data services operator to the home, enterprise and public wifi markets. He said that the company will continue to be backed by Tikona Digital’s erstwhile global investors. Edited excerpts.

telecom.economictimes.indiatimes.com
Tikona aims to double broadband biz post 4G divestment The current business and assets of Tikona Digital Networks, other than the 4G business and the spectrum, will be moved to Tikona Infinet Limited (TIL), which will become an integrated data services operator to the home, enterprise and public WiFi markets or customer segments in India. ETTelecom | March 27, 2017, 18:23 IST NEW DELHI: Tikona Digital will be a debt free company and will have an ample opportunity to expand its fixed broadband services in the home, small medium and large enterprise segment to double its business in the next 18 to 24 months once it completes its divestment of 4G business,” Prakash Bajpai, chief executive officer of Tikona Digital, told ET. “After the transaction, Tikona will perhaps be a rare example of a debt-free company in telecom or data space with enough resources to grow. While the industry remains focused on the larger pie of mobile voice and data services, Tikona has ample opportunity to cater to the fixed broadband services,” Bajpai said. “We are bullish about the big opportunity to proliferate broadband services and are in the process contributing towards realizing the dream of Digital India.”.. Bharti Airtel will take over about $150 million debt of the ISP as part of the agreement, said Bajpai...
The current business and assets of Tikona Digital Networks, other than the 4G business and the spectrum, will be moved to Tikona Infinet Limited (TIL), which will become an integrated data services operator to the home, enterprise and public WiFi markets or customer segments in India. Bajpai said that Tikona Infinet will continue to provide wireless broadband services over which were earlier offered by Tikona Digital in India’s top 25 cities and grow them further. Tikona Infinet would also continue to grow its enterprise business comprising MPLS VPN and allied services that they provide to large enterprise customers across India.
The executive said that Tikona Infinet will continue to be backed by Tikona Digital’s erstwhile global investors -- Goldman Sachs, Oak Investment partners, Everstone Capital, L&T Infrastructure Finance, International Finance Corporation (IFC) and others. Bajpai said that the demand for surplus or unused spectrum available with companies like Tikona emerged only after the last auction. Prior to the October 2016 auction, there was no demand for the 4G spectrum due to under-developed 4G handset eco system, a reason behind Tikona’s half-hearted approach in the 4G domain.

economictimes.indiatimes.com
Telcos on 4G spectrum acquisition overdrive as data consumption soars | Updated: Mar 27, 2017, 01.18 AM IST KOLKATA: Telecom operators in India are on an overdrive to acquire additional 4G capacity spectrum to spruce up networks in terms of speed and riding video content amid the sharp upsurge in data consumption levels, analysts and industry experts said... Brokerages UBS and JM Financial said that Bharti Airtel has sufficiently reinforced its capacity spectrum following the Tikona deal as it now has 30 MHz blocks of 4G airwaves in the 2300 MHz band in as many as 13 out of the country’s 22 telecom circles.
Analysts at JM Financial said that Airtel effectively has “the highest spectrum holding in the industry with an aggregate 1505 MHz of pan-India spectrum holdings across all bands”, which is 22% more than Jio’s total airwaves bank...

telecom.economictimes.indiatimes.com
Airtel acquires Tikona’s 4G biz for Rs 1,600 cr; companies get legal notice from cofounder Tikona currently has 20 MHz spectrum in the 2300 MHz band in Gujarat, UP (East), UP (West), Rajasthan and Himachal Pradesh circles. Airtel plans to roll-out high speed 4G services on the newly acquired spectrum in the five circles immediately after the closure of the transaction. ETTelecom | Updated: March 24, 2017, 12:43 IST NEW DELHI: Bharti Airtel has acquired Tikona Digital's 4G airwaves for Rs 1,600 crore... Rajesh Tiwari, one of the cofounders of Tikona, though sought to put a spanner in the deal, slapping a legal notice against both the companies for not providing details of how the proceeds will be split among shareholders. He has said the deal should not go ahead until there was clarity about his entitlements and his interests were protected. Tiwari owns just over 1 per cent in the Mumbai-based Internet services provider... Tikona was founded in 2008 by former Reliance Communications executives Rajesh Tiwari and Prakash Bajpai. Its other investors include Goldman Sachs, Oak Capital, IFC and Everstone Capital. The company will retain its home broadband wireless business. Tiwari, who left the company in 2009, holds a direct 1 per cent stake in Tikona. He is also a shareholder of Tikona Trust, which in turns owns a stake in the company. He told ET that he was taking legal action as he had not been provided information regarding the split of the share proceeds from the sale to Airtel...

moneycontrol.com
Mar 24, 2017 11:50 AM IST | Bharti Airtel gets legal notice from Tikona co-founder, 4G biz deal under a cloud... The Sunil Mittal-led company has reportedly received a legal notice from Tikona’s Co-Founder and Minority Shareholder, Rajesh Tiwari, asking for a stay on the deal. Tiwari, with a 2.5 percent stake in the Tikona Trust, is believed to be unhappy about the waterfall arrangement or the money slated to be given to shareholders at the time of the deal. While Tikona had sought the consent of shareholders to sell its spectrum to Airtel, it allegedly had not clarified on the percentage share of all shareholder after the deal. Other shareholders of Tikona include Goldman Sachs, Rathi Rathi & Co, and Oak Investment Partners...

Message 31042360
UPDATE 3/24 economictimes reports Tikona "will retain its home (BWA) business" and Airtel "won't take on any employees of Tikona"
So, this gives the appearance of an MVNO relationship sellng TIKONA branded service with TIKONA branded CPE equipment on the Artel network. This appears to be good news as Rs5-600crore (est $91M) debt is retired via a cash pool resulting from the $171M loan plus $244M sale yielding net $324M for operations and procuring CPE now that the network expense is turned over to Airtel. It also implies an expansion of offerings into MiF-type hotspots for mobile service now that Airtel coverage is provided.

economictimes.indiatimes.com
Airtel acquires Tikona's 4G business for Rs 1,600 crore By ET Bureau | Mar 24, 2017, 12.33 AM IST
NEW DELHI: Bharti Airtel has acquired Tikona Digital's 4G airwaves for Rs 1,600 crore, ramping up its high-speed broadband spectrum capacity to take on Reliance Jio Infocomm and the Vodafone-Idea Cellular combine in a fiercely competitive market which is seeing rapid consolidation. The deal, announced a few days after Vodafone and Idea said they were merging their businesses to create a company that will replace Bharti Airtel as India's largest telco, gives the Sunil Mittal-led company access to Tikona's 4G airwaves in five circles — Gujarat, UP (East), UP (West), Himachal Pradesh, and Rajasthan. It will also narrow the gap between Bharti's pan-India 4G spectrum capacity and Vodafone-Idea's and Reliance Jio's, although the difference will still be significant.
Rajesh Tiwari, one of the cofounders of Tikona, though sought to put a spanner in the deal, slapping a legal notice against both the companies for not providing details of how the proceeds will be split among shareholders. He has said the deal should not go ahead until there was clarity about his entitlements and his interests were protected. Tiwari owns just over 1 per cent in the Mumbai-based Internet services provider...
The Tikona deal, which includes taking on debt of Rs 500-600 crore, will see Airtel net 100 MHz of 4G spectrum in the 2300 MHz (4G) band equally split across the five circles, taking its total 4G holding to close to 880 MHz (including Telenor India), compared with 1,169 MHz for Jio and 1,089 MHz for the Vodafone-Idea combine. It will also get 350 cell sites in those five circles but won't take on any employees of Tikona...
Apart from increasing spectrum capacity, Bharti Airtel's weighted average spectrum usage charges (SUC) will also reduce because Tikona's SUC is at 1 per cent of adjusted gross revenue (AGR), said Naveen Kulkarni, co-head of research at brokerage PhillipCapital.
"Bharti currently pays SUC of around 4.3 per cent of AGR. With the acquisition of Tikona's spectrum, Bharti's SUC is likely to reduce by 25 basis points, translating into an annual savings rate of Rs 100 crore. Considering the significant enhancement of data footprint and SUC savings (NPV of Rs 1,000 crore), we find the acquisition adds significant value to Airtel," said Kulkarni. ..
Tikona was founded in 2008 by former Reliance Communications executives Rajesh Tiwari and Prakash Bajpai. Its other investors include Goldman Sachs, Oak Capital, IFC and Everstone Capital. The company will retain its home broadband wireless business. Tiwari, who left the company in 2009, holds a direct 1 per cent stake in Tikona. He is also a shareholder of Tikona Trust, which in turns owns a stake in the company. He told ET that he was taking legal action as he had not been provided information regarding the split of the share proceeds from the sale to Airtel

medianama.com
Airtel confirms acquisition of Tikona’s 4G spectrum on March 23, 2017
... According to the report, Tikona might separate its broadband business from its core business, and run the broadband service as an independent brand...
Tikona’s unsuccessful attempt to launch 4G; Fundraise
Speculations of Tikona’s 4G spectrum sale to Vodafone comes after Tikona seemingly abandoned its 4G broadband plans. Tikona had announced in October 2015 that it would launch “4G broadband plans” in 30 cities by the first half of 2016 but currently runs a pilot project in Varanasi for home and enterprise users. Tikona also provides wired broadband services in 23 cities. It had raised $171 million from an independent US government investment agency in January...
mobileworldlive.com
Bharti Airtel boosts 4G with Tikona spectrum buy 23 MAR 2017... Tikona had planned to provide 4G broadband services in the first half of 2016 in 30 cities, but these plans were abandoned
telecom.economictimes.indiatimes.com
Bharti Airtel to acquire Tikona’s 4G spectrum and business Tikona currently has 20 MHz spectrum in the 2300 MHz band in Gujarat, UP (East), UP (West), Rajasthan and Himachal Pradesh circles. Airtel plans to roll-out high speed 4G services on the newly acquired spectrum in the five circles immediately after the closure of the transaction. ETTelecom | Updated: March 23, 2017, 17:45 IST
NEW DELHI: Bharti Airtel on Thursday said that it has entered into a definitive agreement with Tikona Digital Networks to acquire Tikona’s 4G business including the Broadband Wireless Access (BWA) spectrum and 350 sites, in five telecom circles, adding momentum to merger and acquisitions in the telecom sector which recently saw two mammoths – Idea and Vodafone – teaming up to take on competition...
in.mobile.reuters.com
Thu Mar 23, 2017 | 5:22 PM IST Bharti Airtel to buy Tikona's 4G business for $244 million Telecommunications company Bharti Airtel said it would buy internet services provider Tikona Digital Networks' 4G business in a deal worth 16 billion rupees ($244.20 million). The deal includes acquisition of Tikona's Broadband Wireless Access spectrum and 350 sites in five telecom circles, Airtel said in an exchange filing.
livemint.com
Thu, Mar 23 2017. 06 16 PM IST Airtel to acquire Tikona’s 4G business, including BWA spectrum Airtel says it has entered into a definite agreement with Tikona Digital Networks to buy its 4G business, including Broadband Wireless Access spectrum and 350 sites, in 5 telecom circles New Delhi: Bharti Airtel Ltd agreed to buy Tikona Digital Networks Pvt. Ltd’s 4G business, including its broadband wireless access spectrum and 350 cellular sites in five telecom circles, the country’s largest telecom operator said on Thursday...
livemint.com
Last Modified: Sat, Mar 18 2017. 12 45 AM IST Bharti Airtel close to buying Tikona’s 4G spectrum
Overall value of Bharti Airtel-Tikona deal, which will be split into tranches, may be Rs1,500-1,700 crore
New Delhi: Bharti Airtel Ltd is in the final stages of talks with Tikona Digital Networks Pvt. Ltd to buy the latter’s 4G spectrum, as India’s largest telecom company seeks to increase its capacity to offer data services to customers. ..
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