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Indian mobile count goes up as does broadband: TRAI data Jan 2025
MUMBAI: India’s telecom sector added a modest 2.1 million net subscribers in January 2025, nudging the total count to 1.19 billion, according to the Telecom Regulatory Authority of India’s monthly data release. But it wasn’t all smooth signal—wireline connections tanked, dropping over 10 per cent as TRAI shifted 5G Fixed Wireless Access (FWA) from wired to wireless accounting.
Mobile still rules the roost, with 1.16 billion users riding the wireless wave, including 5.7 million FWA users. Urban India continued to drive growth, adding over 5 million new mobile connections. Meanwhile, rural areas quietly chipped in with just under a million more.
Broadband subscriptions inched up 0.04 per cent to 945.16 million—an uninspiring climb, considering Reliance Jio and Bharti Airtel hold over 80 per cent of the market. Wireline broadband, meanwhile, shrank slightly as users cut the cord in favour of FWA.
Mobile Number Portability (MNP) remained red-hot with 14.14 million requests in Jan alone—pushing the all-time tally past 1.09 billion. Uttar Pradesh (East) and Maharashtra topped the charts for most switched loyalties.
The market remains firmly in private hands, with Jio and Airtel leading across broadband and mobile.
Government-owned players like BSNL and MTNL continue to struggle, holding just 8 per cent of wireless subscribers and less than a quarter of the wireline market.
Tele-density stood at 84.54 per cent—Delhi being the most connected with an eye-popping 274 per cent, while Bihar lagged behind at 56.6 per cent.
And while fixed lines may be flatlining, India’s telecom story continues to be a mostly wireless wonder.
iWorld
Bill Ackman’s Pershing Square makes $64 billion bid to acquire Universal Music Group
Ackman pitches NYSE relisting plan as UMG board weighs unsolicited offer
The hedge fund has proposed a business combination that values UMG at €30.40 per share, representing a hefty 78 per cent premium to its current trading price. The offer includes €9.4 billion in cash alongside stock in a newly formed entity, with shareholders set to receive €5.05 per share in cash and 0.77 shares in the new company for each UMG share they hold.
Under the proposal, UMG would merge with Pershing Square SPARC Holdings Ltd and re-emerge as a Nevada-based entity listed on the New York Stock Exchange. The move is designed to boost investor visibility and potentially secure inclusion in major indices such as the S&P 500.
Pershing Square Capital Management ceo Bill Ackman argued that while UMG’s operational performance remains strong, its market valuation has lagged due to external factors. “UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business,” Ackman said, pointing to concerns ranging from shareholder overhang to delayed US listing plans.
Ackman also flagged what he sees as untapped potential in UMG’s balance sheet and a lack of clear capital allocation strategy. He added that the market has not fully recognised the value of UMG’s €2.7 billion stake in Spotify, alongside gaps in investor communication.
The proposed transaction would also result in the cancellation of around 17 per cent of UMG’s outstanding shares, while maintaining its investment-grade balance sheet. Pershing Square has said it will fully backstop the equity financing, with debt commitments secured at signing. The deal is targeted for completion by the end of the year.
UMG, however, has struck a measured tone. The company confirmed that its board has received the non-binding proposal and will review it with advisers. It reiterated confidence in its current strategy and leadership under Lucian Grainge, signalling no immediate shift in stance.
The proposal comes at a time when global music companies are navigating evolving investor expectations, streaming economics and capital allocation pressures. For Pershing Square, the bet is clear: sharpen the financial story, relist in the US, and let the music play louder in the markets.
Whether UMG’s board is ready to change the tune remains to be seen, but the spotlight on its valuation just got a lot brighter.
