Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Telenor-owned GSM service provider Uninor hopes that the upcoming Union Budget would speak of and set aside funds for an Internet for All ambition of the country, besides bringing relief on the taxation front.
“We hope that the budget would set aside funds for providing basic mobile internet for all people of the country as a step towards universal broadband,” Uninor’s CEO aid iMorten Karlsen Sorby sn an emailed response to ET’s queries on the company’s Budget expectations.
Sorby also said that there was a need to free up resources for investing into the networks, which can be done through more rational expectations of what spectrum should yield and some relief on taxation. “We see examples of even margins that operators give to their distributors being taxed.”
“While there is talk about broadband and fibre, we must not forget that only a little over half of India’s population in our estimate has a mobile connection and just one fourth of those have any internet enabled,” Sorby added further. Original post at The Economic Times