Reliance Communications Ltd. Monday confirmed that the Anil Ambani-led company is in talks with elder brother Mukesh's Reliance Industries Ltd. to lease out the mobile phone company's telecommunications infrastructure to aid the latter's new wireless broadband business venture.
"If there is any responsible player coming into the industry and growing the business pie, especially on data, that's good news," Syed Safawi, president and chief executive of wireless business at Reliance Communications, told analysts on a conference call. "We can only benefit in accelerating the data revolution," he said.
The deal, if it goes through, will be significant as this will be the first time the companies headed by the two brothers will be working with each other since a 2005 split of the conglomerate built by their father, Dhirubhai Ambani. The brothers were estranged after a bitter feud over their multi-billion dollar family business empire.
Reliance Industries -- India's largest company by market capitalization -- plans to offer fourth-generation wireless broadband services across India by mid-2012, along with a range of tablet computers for different income groups.Reliance Communications, the flagship company of Anil's Reliance Group, offers a range of telecommunication services, from voice to data. It is also India's second-largest phone services company by users.
Reliance Industries officials didn't immediately offer a comment.
Executives at Reliance Communications also told analysts that the company plans to redeem its $1.1 billion of foreign currency bonds, which are falling due in March next year, through internal cash. Reliance Communications has nearly INR320 billion of debt on its books, which it took to pay for third-generation radio bandwidth as well as to expand its network base.
Source: http://www.totaltele.com/view.aspx?ID=469218
andre johnson arrested development arrested development shannon tweed shannon tweed don lapre aladdin
কোন মন্তব্য নেই:
একটি মন্তব্য পোস্ট করুন