Satyam Computer Services has started negotiations with AOL Time Warner, America’s largest Internet service provider company, and Singapore Telecom for offloading part or all of its 52.5 per cent stake in Satyam Infoway.
AOL Time Warner has been testing the waters for its entry into the Indian Internet access business for the last two years, but has not made any headway till now.
According to industry sources, it would take “some time” for any deal to fructify. “It appears Satyam is favourably disposed to a deal with AOL Time Warner if commercial terms satisfy both.”
Satyam has decided to offload its stake in the Nasdaq-listed Sify to enable both companies to remain “pure play companies in their respective areas”—Satyam Computers in software services and Satyam Infoway in Internet access. Satyam would also buy Sify’s fledgling software services division for an already agreed $7 million.
AOL Time Warner’s media arm has already set up a subsidiary here and operates the movie channel HBO, news channel CNN and the Cartoon Network.
The $4.9-billion SingTel entered India by picking up a strategic stake in Bharti Tele-Ventures, the holding company for the Bharti’s group foray into cellular and basic telephony. It is also a major player in the ISP business.
For the second quarter ended September, Sify reported a marginal decline in cash loss to $4.8 million. Topline grew to $10.9 million against $9 million in the same period last year.
Vijay Mansukhani, speaks to exchange4media about the resurgence of Onida, the scope of growth of consumer electronics market in India and the reasons why Indian consumer electronics brands don’t compete on a global scale
Projjol Banerjea opens up about hiring Anne Macdonald and GroupM's Rob Norman, and the brand's new identity
Meera Iyer tells exchange4media that in FY 2016/17, bigbasket clocked a revenue of Rs 1,400 crore. The online supermarket currently stands at 70,000 orders a day, with operations in 25 cities.
CMO, Kashyap Vadapalli on the start-up’s marketing play, why it has decided to stay away from IPL and response to its furniture rental apps
Ushering the launch with a campaign titled ‘The New Way to Get Rich’ showcasing how technology gets millennials closer to their financial dreams
Firmly denies rumours of WPP breaking up after Sorrell's exit
Ogilvy and Love Matters conceptualised a campaign that aimed to change the conversation and imagery that is associated with the LGBTQ community and lesbians in particular