8/12/2019 Privacy Worries Cloud Facebook

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PRIVACY WORRIES CLOUD FACEBOOK'S WHATSAPP DEALSunil Abraham

The Economic Times

Privacy activists in the United States have asked the competition regulator or the Federal TradeCommission to put on hold Facebook's acquisition of WhatsApp. Fortunately for Facebook and

unfortunately for us, India still does not have a comprehensive data protection or horizontal privacy law.The Justice AP Shah Committee that was constituted by the Planning Commission in October 2012recommended that the Privacy Act articulate national privacy principles and establish the office of thePrivacy Commissioner. It further recommended that data protection and surveillance be regulated for boththe private sector and the state. Since then the Department of Personnel and Training has updated thedraft bill to implement these recommendations and has been working towards consensus withingovernment.

(The author is executive director of The Centre for Internet and Society.)

CELLULARBHARTI EYES $400 MILLION VIA OVERSEAS BONDS

MumbaiThe Financial Express |The Economic Times |The Hindu Business Line |The Times of

India |Mint |The Hindu |The Telegraph | The Pioneer | The Indian Express | Financial Chronicle

Bharti Airtel is looking to raise 350-million Swiss Franc (around $400 million) through bonds. This is thesecond overseas bond issue by an Indian company this year and is the largest bond deal by an Indianentity in the Swiss debt market. The bond issue is rated BBB- by Fitch and Standard and Poors, andBaa3 by Moodys. It carries a coupon rate of 3 percent. The bonds tenure is six years and lead managersof the issue are Deutsche Bank, UBS and BNP Paribas. The issuer of the bond will be Bharti AirtelInternational Netherlands and Bharti Airtel Limited will be the guarantor. The bonds will listed on theSwiss Stock Exchange. Sources in Deutsche Bank said that the issue saw well-diversified demand frominsurance institutions, private banks and pension funds.

HIGH-PROFILE EXITS CONTINUE AT BHARTI AIRTELAnandita Singh Mankotia, New Delhi

The Economic Times | Hindustan Times

Another five senior executives have left Bharti Airtel, including its legal and enterprise marketing heads,continuing the high-profile exits at India's top mobile phone operator that have coincided with a new topmanagement being put in place and an overhaul of the organisational structure. Jyoti Pawar quit afternearly six years in the company to join Mumbai-based law firm Economic Laws Practice to head itstelecommunications media and technology practice. She was heading legal and regulatory affairs atBharti Airtel. ukesh Jain, chief marketing officer at Airtel's enterprise business; Rohit Gothi, head of AirtelDelhi; Tamil Nadu and Kerala hub head Vikas Singh and Mohit Parasher, head of Bharti Airtel's retail

outlets, have also put in their papers. A Bharti Airtel spokesperson confirmed all the exits, but didn'tdisclose reasons. The latest resignations follow on the heels of a spate of high-level exits from thecompany in India, which is undergoing internal restructuring under CEO Gopal Vittal who has justcompleted a year on the job.

HANDSETS/ACCESSORIESTELL US HOW MUCH YOUR CHENNAI PLANT IS WORTH, SC ORDERS NOKIA

New Delhi

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The Financial Express |The Economic Times |Business Standard

The Supreme Court on Thursday asked Nokia India to furnish the valuation report in relation to itsChennai plant by Friday, the transfer of which is integral to the handset makers $7.2 -billion deal withMicrosoft announced in September 2013. A bench headed by justice AR Dave came down heavily onNokia India for not being forthcoming about the market value of the assets of its Chennai plant. The apex

court said on Thursday: It must be in the files of your company. Must be. Dont take us for a ride. Give us the valuation report by tomorrow, the court shot back when Nokia India counsel Vikas Srivastava saidthat no such valuation had been ascertained till now but quoted a rough estimation of Rs 2,200 crore toRs 3,000 crore. Observing that it would try to help both sides to find a reasonable solution to sort out therow, the court said closing down of Nokia India plant when its parent was globally transferring anddisposing of its business might not be in the interests of the I-T department or the 8,000 employees at theplant.

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