THE WRAP: Scandal engulfs Indian telecom

Robert Clark
19 Nov 2010

This week a $39 billion scandal engulfed Indian telecom, while the Beatles finally made it to iTunes.

Indian telecom minister A Raja resigned over the allocation of 2G licenses two years ago, reportedly costing the government up to $39 billion by not holding an auction.

As the scandal widened, investors sharply marked down Reliance Communications’ stock while the regulator called for the revocation of many licenses.

An Indian judge ordered Vodafone to pay $550 million immediately in taxes, even though its long-running dispute over back taxes is still before the courts.

The Beatles came together with iTunes after Apple finally struck a deal with EMI and the band members. Already 55 Beatles songs occupy spots in the iTunes top 200.

Google Voice finally made it to the App Store.

Twitter’s latest fundraising round valued the company at $3 billion.

Chinese web leader Sinaexpects its microblogging service to hit 100 million users next year.

The Japanese government weighed selling down its $24 billion stake in NTT., China’s biggest online video site, joined the queue for a New York IPO.

A US congressional committee said China Telecom had briefly diverted a massive slice of global web traffic in April. The Chinese operator denied it.

Dell dumped the head of its devices unit, Ron Garriques. The UK is unlikely to offer LTE until 2014.

Global bandwidth prices fell 60% in the past year, but capacity is still at least three times more expensive across the Pacific than the Atlantic.

Facebook unleashed Messages, aimed at Gmail and other webmail services. The GSMA came up with a metric for network energy efficiency.

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