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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

Appointments

Bharti Airtel appoints Naval Seth as head of investor relations

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NEW DELHI: Bharti Airtel, India’s leading communications solutions provider, today announced the appointment of Naval Seth as the Head of Investor Relations. In this role, Naval will spearhead Airtel’s representation amongst investors, lenders, equity partners, & financial institutions and will report to Soumen Ray, Chief Financial Officer.

Welcoming Naval to the role, Soumen Ray, Chief Financial Officer, Bharti Airtel said: “We are delighted to have Naval with us. His deep relationships with the investment community, strong subject knowledge in Equity Research and Capital Markets will add immense value to the company as we steer ahead in our growth journey. I wish Naval the very best”

Naval joins Airtel from Emkay Global Financial Services Limited where he was Deputy Head of Research. Prior to that, he had worked with ICICI Securities Limited. Naval brings with him over 14 years of experience in Equity Research and Capital Markets. He has a deep research experience across both B2B and B2C facing businesses along with a trusted relationship with the investment community.

Over the years, Naval has been recognized for in-depth and differentiated research across the sectors- Telecom, Media and Consumer Discretionary. He has also been consistently voted by institutional investors and also ranked in Asia Money polls.

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Nokia,Samsung sign 5G patent license agreement

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NEW DELHI: Finland-based company Nokia said that it has signed a new cross-license patent agreement with Samsung following the expiry of the previous agreement at the end of 2022.

Under the agreement, which covers Nokia’s fundamental inventions in 5G and other technologies, Samsung will make payments to Nokia for a multi-year period beginning 1 January 2023. The terms of the agreement remain confidential between the parties.

Jenni Lukander, President of Nokia Technologies, said: “Samsung is a leader in the smartphone industry, and we are delighted to have reached an amicable agreement with them. The agreement gives both companies the freedom to innovate, and reflects the strength of Nokia’s patent portfolio, decades-long investments in R&D and contributions to cellular standards and other technologies.”

The agreement is consistent with the assumptions that Nokia has disclosed in the long-term Nokia Technologies outlook commentary in its Financial Report for Q3 and January-September 2022 issued on October 20, 2022.

Nokia’s industry-leading patent portfolio is built on more than €130 billion invested in R&D since 2000 and is composed of around 20,000 patent families, including over 4,500 patent families declared essential to 5G. Nokia contributes its inventions to open standards in return for the right to license them on fair, reasonable and non-discriminatory (FRAND) terms. Companies can license and use these technologies without the need to make their own substantial investments in the standards, fueling innovation and the development of new products and services for consumers.

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Truke brings in BTG X1 TWS earbuds with 40ms low latency, 48 hr battery life and RGB lights

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NEW DELHI: German-origin personal audio brand Truke has come up with yet another product for audiophiles and gamers in India, called BTG X1 TWS earbuds, which come with an  introductory price of Rs 999 for today (January 4).

The all-new BTG (Born To Game) earbuds will be available at a regular price of Rs 1,499 on marketplaces like Amazon and Flipkart, Croma etc. starting tomorrow (January 5).

Truke, in a press statement, said BTG X1 delivers an ultimate gaming experience through its true gaming mode which claims to offer the best-in-class ultra-low latency of up to 40ms. Audiophiles and music lovers can relish a cinematic music experience with BTG X1’s 12mm Titanium speaker drivers, the company said.

To tune into those long gaming and music-listening sessions, the all-new Truke BTG X1 offers an unparalleled total playtime of up to 48 hours, including 10 hours of playtime on a single charge. The true wireless half-in-ear earbuds are embedded with a Quad-Mic Environmental Noise Cancellation (ENC) and comes with a 20RGB gaming characterized case design.

Pankaj Upadhyay, founder and CEO at Truke India, said, “Truke BTG X1 will immediately transform the gaming and music-listening experience of customers at a fraction of the price. The new product has been launched in response to the increasing demand for our expertise in the gaming earphones market.”

“The pandemic saw an immediate surge in the gaming sector across India, with around 507 million gamers in the country alone. Online gaming in India reached a figure of USD 1.3 billion in 2021, showcasing a 28% growth from USD 906 million in 2019. This presented us with the opportunity to broaden our horizons, and with Truke BTG X1, we can set out to provide consumers with cutting-edge, high-performing earbuds dedicated to gaming,” he said.

“Moreover, the success of our other products like BTG1, BTG2, BTG Alpha, and BTG3, which had sales of more than half a million units, clearly indicates a good foundation for BTG X1. We sincerely appreciate the support of all our loyal customers, and with the new product, promise to enhance their gaming and music experience even further,” Upadhyay noted.

The company further said the launch of this product is in complete accordance with Truke’s vision to establish itself as the go-to brand across the sound ware and sonic accessories space with its product offerings that claims to blend the best in state-of-the-art technology, power, performance, customer experience, and affordability.

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