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Elon Musk’s $44 billion Twitter deal gets board endorsement

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NEW DELHI: Twitter’s board has recommended unanimously that shareholders approve the proposed $44 billion sale of the company to billionaire and Tesla CEO Elon Musk, according to a regulatory filing Tuesday.

Musk reiterated his desire to move forward with the acquisition last week during a virtual meeting with Twitter employees, though shares of Twitter remain far below his offering price, signalling considerable doubt that it will happen.

Shares rose about 3% to $38.98 before the opening bell Tuesday, far short of the $54.20 per-share that Musk has offered for each share. The company’s stock last reached that level on April 5 when it offered Musk a seat on the board before he had offered to buy all of Twitter.

In a filing with the US Securities and Exchange Commission detailing on Tuesday detailing a litter to investors, Twitter’s board of directors said that it “unanimously recommends that you vote (for) the adoption of the merger agreement.” If the deal were to close now, investors in the company would pocket a profit of $15.22 for each share they own.

Source: AP

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LTI inaugurates Satellite Center in Kolkata

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NEW DELHI: Larsen & Toubro Infotech (LTI), a global technology consulting and digital solutions company, has expanded its operations in Kolkata by setting up a new facility in the city. The new center marks company’s expansion in the Eastern region of the country and is designed to meet the requirements of a futuristic and modern workplace.

The center was inaugurated today by Nachiket Deshpande, Chief Operating Officer, LTI, Manoj Shikarkhane, Chief Human Resource Officer, LTI, Niruppam Chaudhuri, Regional Head, NASSCOM, and Debasish Sen, Chairman of Nabadiganta Industrial Township Authority (NDITA).

Located in the Salt Lake Electronics Complex, the new center is equipped to house more than 300 employees. The center will support LTI’s service delivery capabilities for Cloud, Data, and Digital technologies and create exciting career opportunities for local talent seeking experiences in these futuristic domains. It will also offer LTI’s clients the benefit of increased access to a larger talent pool from the state and the region.

Nachiket Deshpande, Chief Operating Officer, LTI, said: “Kolkata boasts of a rich industry-academia ecosystem, and we are excited about our foray into the City of Joy. This center is launched in response to requests from our current and potential employees in the region. We are thrilled to mark our presence in the city and are committed to a long-term association with the region.”

Manoj Shikarkhane, Chief Human Resources Officer, LTI, commented: “We are witnessing monumental changes in the work, workplace, and workforce of the future, and are establishing more talent hubs across the country. Our expansion in Kolkata aims to benefit the overall technology landscape in the region. We are excited about our new start in this city and look forward to accelerated growth in times to come.”

LTI leveraged the opportunity to set base in the eastern region of the country to address the increasing demand for satellite workplaces. As one of the top technology companies in the nation, LTI encourages new ways of working and believes in taking work to people instead of bringing people to work. LTI is upbeat about the potential of the new Kolkata center and intends to offer enriching technology careers to local talent as well as solve better and solve faster for customers.

Niruppam Chaudhuri, Regional Head, NASSCOM, said: “The surge in demand for digital technologies from enterprises across the globe has opened plethora of new-age career opportunities for country’s aspiring talent. Kolkata bears a rich heritage and serves as best-fit destination to groom talent of the future. We extend a warm welcome to LTI as it expands its presence in the region.”

Debasish Sen, Chairman of NDITA, commented: “Salt Lake is emerging as a preferred destination for IT service providers interested in setting their base in the city. As one of the fastest-growing technology players, LTI’s expansion in Kolkata certainly adds to the appeal of this region and will benefit the local talent immensely.”

LTI plans to gradually scale up the operations at the new center and make it a core delivery unit in the region.

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Nokia, Taiwan Mobile strengthen partnership with energy-efficient 5G coverage expansion deal

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NEW DELHI: Nokia has announced that it has been selected by Taiwan Mobile (TWM) in an expansion deal to enhance the operator’s 5G coverage across the country. Under the deal, Nokia will provide its latest energy-efficient AirScale portfolio supporting TWM’s commitments to RE100 and reaching 100 percent renewable energy by 2040.

It will also provide a smooth network evolution path following the completion of the proposed merger with Taiwan Star.

Nokia will provide equipment from its AirScale portfolio, including base stations and massive MIMO antennas to boost network performance and capacity. The deal also covers the introduction of 4G/5G dynamic spectrum sharing to maximize the advantages of TWM’s spectrum assets, which include 700MHz and 2100MHz bands. Nokia will help the operator modernize its LTE infrastructure, as well as consolidate the network management and optimization under a centralized tool for a superior 4G/5G RAN network performance.

Nokia has partnered with TWM for more than 20 years and has previously provided 2G, 3G, and 4G mobile networks covering RAN, packet core, and voice core. In particular, Nokia has made several key contributions to TWM’s 5G development including projects on smart stadiums, smart transportation, and smart logistics. Today, TWM has over one million 5G subscribers.

Nokia will also expand its existing 5G Standalone Core at Taiwan Mobile to enable the operator to provide advanced 5G applications, such as network slicing for enterprises and businesses and Edge Cloud deployments for low-latency services. The deployment will include Nokia AirFrame server hardware with Multi-access Edge Computing (MEC) capabilities, IMS Voice Core capacity expansion, and Voice over New Radio (VoNR).

Jamie Lin, President at Taiwan Mobile, said: “Nokia has been our go-to partner for more than two decades and their performance during the 5G era so far has been nothing but brilliant. By doubling down on their cutting-edge technologies with this newly awarded order, we aim to upgrade and expand our 5G network to deliver resilient connectivity and expanded coverage to our subscribers and enterprises alike while at the same time accelerate our sustainability agenda and contribute to a greener earth. By working hand in hand with Nokia, I have full confidence we can get the best of both worlds.”

Tommi Uitto, President of Mobile Networks at Nokia, said: “This new extended coverage deal is a testament to the great progress we’ve made in the deployment of 5G services in Taiwan with our long-term partner, Taiwan Mobile as its sole supplier. I am also encouraged to see how our AirScale portfolio is helping to reduce energy consumption and pave the way for a sustainable future.”

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Airtel appoints former Cabinet Secretary as independent director

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NEW DELHI: Bharti Airtel, India’s premier communications solutions provider, today announced the appointment of PK Sinha and Shyamal Mukherjee as Independent Directors on its Board of Directors. The appointments are subject to approval by shareholders at Airtel’s upcoming Annual General Meeting.

PK Sinha, IAS (Retd.), served as the Cabinet Secretary for more than 4 years before moving to the Prime Minister’s Office. He retired from there in March 2021 after 44 years of continuous service to the nation. He has been a Government nominee Director in numerous major Public Sector Undertakings and is well versed with the principles of healthy corporate governance.

Shyamal Mukherjee is the former Chairman and Senior Partner of PwC lndia and was at the forefront of making PwC a future-ready firm. Shyamal began his professional journey with PwC in 1984 and became a partner in 1993. He held several leadership roles at PwC India, including Brand & Strategy leader and Leader of India Tax practice. Shyamal also serves as an Independent Director on the board of ITC Ltd and a member of its Audit Committee.

The Company added that Manish Kejriwal, Lead Independent Director, would be retiring on September 25, 2022 on completion of his second tenure. Shishir Priyadarshi would be leaving the board with effect from October 31, 2022 to devote time towards his other professior,21 commitments. D. K. Mittal IAS (Retd.), would be designated as Lead Independent Director with effect from September 26, 2022.

Sunil Bharti Mittal, Chairman, Bharti Airtel said: “Airtel takes pride in having one of the most distinguished Board of Directors that is committed to high standards of corporate governance. These appointments are made with a long term view – to make the board future-ready, address the long term requirements of the Company and ensure smooth transition in key board positions. On behalf of the Board, I welcome PK Sinha and Shyamal Mukherjee and their valuable experience will add immense value to Airtel’s growth journey. I also want to thank fv1ani:;h Kejriwal and Shishir Priyadarshi for their tremendous contribution to Airtel.”

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