New York - What was to be the most expensive takeover of a firm by investors collapsed Thursday as a deal to acquire Canadian telecom giant BCE fell through.

The Telecom Regulatory Authority of India (Trai) has recommended the imposition of annual administrative charge for 3G technology, which would be 2% of the highest 3G spectrum bid amount. Companies will have to pay the administrative charges in the one year moratorium period from the date of the allocation of spectrum. The regulator has proposed to the standalone 3G players and the new entrant companies to share an additional 3% of their annual gross revenues with the government for using the frequency spectrum.  

Stock market analysts have maintained ‘buy’ rating on Reliance Communications (RCom) stock with an intraday target of Rs 221.

According to analysts, interested traders can purchase the stock above Rs 206 with a strict stop loss of Rs 198. If the stock market remains on positive track, the stock pricing becomes more attractive, and reach above Rs 228.

Bharti Airtel, India's top integrated telecom services provider, has been awarded 'Best Content Service' for the Airtel IFFCO Farmer Information Dissemination platform and 'Best Project Management' for the Gujarat E-GRAM project at the World Communication Awards held at London.

The Airtel-IFFCO Farmer Information Dissemination Platform project was granted the best content service for its originality and being capable of providing rural clients granular information about their livelihood conditions.

Telecom giant Vodafone, approached the Supreme Court against the recent decision of the Bombay High Court on tax issue. The I-T department had asked it to pay income tax of $1.7-billion over its acquisition of Hutchison. Bombay High Court had pulled the telecom company for suppressing facts and granted eight weeks to file any appeal.  

The Bombay High Court has rejected the writ petition filed by the telecom giant Vodafone, regarding the capital gains tax, against income tax department. The company has challenged the show cause notice by the IT department, for about $1.7 billion capital gain tax in the High Court.  

The division bench of Justices S Radhakrishnan and Anand Nirgude has also extended the stay on the show cause notice and given a time of eight weeks to Vodafone to file appeal in the apex court. The company may approach the Supreme Court against the income tax department in the next week.