iWorld
Reliance Jio adds 1.68 mn wireless subscribers in April: Trai
Mumbai: Reliance Jio added 1.68 million wireless subscribers at the end of April, as per subscription data by Telecom Regulatory Authority of India (Trai). Bharti Airtel added 0.81 million wireless subscribers during the same period. Vodafone Idea lost 1.56 million wireless subscribers in April.
The total number of wireless subscribers increased from 1,142.09 million to 1,142.66 million in April. The wireless subscription in urban areas decreased from 624.23 million to 623.78 million. However, wireless subscription in rural areas increased from 517.86 million to 518.88 million.
As per Trai data, there were 1013.81 million active wireless subscribers during the month. Reliance Jio had the highest number of active wireless subscribers at 378.85 million followed by Bharti Airtel at 352.68 million and Vodafone Idea at 222.33 million. BSNL had 59.31 million active wireless subscribers.
As per information received from 657 operators in April, Trai found that total broadband subscribers increased from 788.30 million to 788.77 million. The broadband subscribers comprised 759.87 million mobile device users, 27.25 million wired subscribers and 1.18 million fixed wireless subscribers.
The top five broadband service providers were Reliance Jio Infocomm with 411.31 million subscribers, Bharti Airtel with 215.28 million subscribers, Vodafone Idea with 122.06 million subscribers, BSNL with 26.10 million subscribers and Atria Convergence with 2.08 million subscribers.
The top five wired broadband service providers were Reliance Jio Infocomm with 5.63 million subscribers, Bharti Airtel with 4.85 million subscribers, BSNL with 3.80 million subscribers, Atria Convergence with 2.08 million subscribers and Hathway Cable and Datacom with 1.11 million subscribers.
The top five wireless broadband service providers were Reliance Jio Infocomm, with 405.68 million subscribers, Bharti Airtel with 210.43 million subscribers, Vodafone Idea with 122.05 million subscribers, BSNL with 22.29 million subscribers and Intech Online with 0.21 million subscribers.
The number of wireline subscribers increased from 24.84 million to 25.16 million in April.
The number of telephone subscribers in India increased from 1,166.93 million to 1,167.82 million. Urban telephone subscription decreased from 647.11 million to 646.99 million. However, rural subscription increased from 519.82 million to 520.82 million.
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.
