The giant telecommunication service provider from USA, the AT&T has recently informed that it is planning to acquire a stake in Datacom, a subsidiary company of the Videocon Group. The Datacom has recently received a license from the Indian government for operating mobile services throughout India. The sources related to the development have stated that this is going to be the second investment of AT&T in Indias mobile telephony business, provided the deal eventually be completed. The sources added that the deal is likely to see the day light within the next few weeks.
Though, when contacted and enquired about the news, one of the spokespersons of AT&T has commented, "We do not comment on market speculation", the sources from the industry have informed that the senior management team of AT&T will be visiting New Delhi in the middle part of April. The sources said that the team would be working out the details of the deal then and the US company is also likely to make the tie up as a strategic partner with Datacom. The sources added that Datacom has already announced to make a huge investment of Rs 6,000 crore for setting up a pan-India network.
According to one of the sources related to the development, the companies are waiting for the Indian government to allocate spectrum (radio frequency required for wireless telecom services) to the players. The companies are planning to finalize the deal only after that and the officials of the companies have informed that the reason behind this wait is that, a mere license from the Indian government is not going to fetch a good value to them. The sources from Datacom have further informed that the company has also been approached by another foreign player Telephonica of Spain for the same purpose.
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| Posted : 3/18/2008 |
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