Reliance Communications, India’s second-largest wireless operator, will launch phone services in Uganda by year-end, marking its first foray into international mobile phone markets.
Reliance on Thursday announced the acquisition of Uganda-based Anupam Global Soft for an undisclosed sum along with plans to invest up to $500m to ramp up its telecom network in Uganda. The company will continue to push for expansion into other emerging markets of Asia and Africa.
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Reliance proposes bonus shares after price fall - Feb-17Analysis: Emerging markets shake up the old order in telecoms - Feb-10KKR puts $250m in Bharti Airtel - Feb-07Reliance subsidiary announces IPO - Feb-04Indian telecom groups are keen to break into international markets even though India, the world’s fastest-growing mobile market, continues to add about 8m new wireless subscribers each month. India claimed 233m mobile subscribers at the end of December.
Other emerging markets also have great potential for adding mobile subscribers. ”Uganda’s telecom market is similar to what India was eight years back,” said Punit Garg, president, of global business for Reliance.
Through FLAG, its telecom infrastructure arm, Reliance is spending $1.5bn to lay a submarine cable connecting the African continent to other regions.
Reliance has tried several times to make the leap to overseas mobile phone markets but did not win licences in Saudi Arabia, Egypt, Bhutan, Sri Lanka, Kenya and Qatar. It competed for a controlling stake in Telekom Kenya but recently lost out to France Telecom.
Bharti Airtel, India’s largest mobile operator, first ventured overseas in 1998 when it launched services in Seychelles. The company is expanding in Sri Lanka, Jersey and Guernsey.
Source : http://www.ft.com/
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