R-Com Confirms Broadband Talks With Reliance Industries
Tuesday, 15 November 2011, 01:00 IST
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New Delhi: Reliance Communications confirmed talks Monday to lease out its telecom infrastructure to Reliance Industries which plans to offer broadband services in the country from mid-2012. "If there is any responsible player coming into the industry and growing the business pie, especially on data, that is good news," said Syed Safawi, president and chief executive of wireless business at Reliance Communications. "We can only benefit in accelerating the data revolution," Safawi said during a conference call with analysts, adding that similar talks were also on with other players in the business to share the telecom infrastructure. Last year, Infotel Broadband, a company promoted by Mukesh Ambani, had bid in an auction for airwaves and had emerged sole winner for a pan-India presence in wireless broadband business. Later, Reliance Industries announced that it had acquired a 95-percent stake in Infotel for 4,800 crore (little over $1 billion).
Source: IANS