Mukesh Ambani-led Reliance Industries denied any participation in the bidding for the UK telecom group British Telecom, popularly known as BT. Calling the report entirely speculative and baseless, the telecom major requested the media to conduct due diligence and verification before publishing such articles.
The mentioned news report was published by The Economic Times on November 29, 2021. The report cited that Reliance might make an unsolicited offer to purchase BT or may obtain a controlling share in the firm. It also said that the company might make partnerships with BT’s networks arm Openreach and fund its fibre expansion plan.
British Telecom is already under many speculations, primarily a takeover by Franco-Israeli billionaire Patrick Drahi who bought a 12.1% stake in the company this year.
The shares of BT has leapt as much as 9%, valuing the company at 16.5 billion pounds ($22 billion) with the news.
Reliance Jio hikes prepaid tariff by 20% from December 1
Following Airtel and Vodafone Idea’s footsteps, Reliance Jio increased its prepaid tariff by 20% from December 1. The entry-level plan of Rs 75 for JioPhone subscribers will now cost Rs 91 with the new price hike. The Rs 129 base plan with unlimited calling and data will be increased to Rs 155. The Rs 149 prepaid plan has increased to Rs 179, and the Rs 199 prepaid plan costs Rs 239. The Rs 249 prepaid plan price has also increased, and it now costs Rs 299.
There are also changes in the validity plans. The Rs 399 plan will cost Rs 479 from December 1. The Rs 444 plan offering 2GB per day would cost Rs 533. The 84-day validity plans that cost Rs 329, Rs 555 and Rs 599 now cost Rs 395, Rs 666 and Rs 719, respectively.
The telecom service provider lost 11 million subscribers in the July-September quarter and ended with 429.5 million users. When the quarter ended, Jio’s ARPU stood at Rs 143.6. The market leader targets to hit 500 million subscribers this quarter.
Today is the last day for the subscribers to recharge with the old prices still in effect.