Consumer durables major Videocon Industries has applied for telecom licences
for providing mobile phone services nationwide, except for the north-east.
group is seeking licences for 22 of the country''s 23 telecom circles, except the
have applied for mobile licences in all 22 circles," Videocon chairman Venugopal
is planning to partner a US firm for services roll-out. "We are in talks
with a global company for partnership in our telecom venture... Videocon would
be a majority partner in it," Dhoot said.
declined to identify the US partner but newspaper reports said it may be Verizon
Communications, which already has a joint-venture for international long distance
telecom business with Videocon.
Industries is already in the business of making mobile phone sets and telecom
services would bring in synergies, Dhoot said.
houses are rushing to seek telecom licences in India''s buoyant market which is
adding about 8 million mobile users every month. Analysts expect mobile phone
subscriber base in the country to reach 500 million in five years from the current
huge growth potential has lured foreign firms. Vodafone Group Plc, the world''s
second-biggest mobile firm, earlier this year paid $11.1 billion to acquire a
controlling stake in Hutchison Essar, since renamed Vodafone Essar.
services conglomerate Sistema which yesterday bought a 10-per cent stake in Indian
telecom operator Shyam Telelink Ltd for $11.4 million, said it plans to raise
its holding in to 51 per cent.
huge growth potential has attracted several domestic groups as well, including
real estate firms like Omaxe, Unitech and Parsvnath Developers.
rush of telecom licence-seekers has prompted government to set an October 1 deadline
for receiving applications.