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Videocon mobile services in August

Posted on the May 22nd, 2008 under Telecom by Rohit

Videocon Industries will roll out its mobile network in the middle of August. The company said it was aiming for a 10 per cent share of the Indian telecom market in the next five years.

“We are aiming for 50 million subscribers in five years. The Indian market will have more than 500 million mobile users by then,” Videocon chairman and managing director Venugopal Dhoot said.

India has more than 260 million fixed-line and mobile users, and the government has set a target of 500 million users by 2010.

“We have got spectrum in south India and will launch services from August 15,” Dhoot said.

Videocon-promoted Datacom Solutions is one of the eight players that have been recently given licences to operate mobile networks on a pan-India basis.

Videocon is open to entering into a partnership with a foreign company for its telecom business.

Dhoot said West Asian firms, including the UAE-based Etisalat and Qatar Telecom, have already approached the company for prospective partnership deals.

The UAE-based Etisalat had said it could spend up to $4 billion on an acquisition or a licence to enter India.

Videocon has appointed investment bank Morgan Stanley to advise it on its telecom business and any possible deal, Dhoot said.

Last month, Videocon reportedly held talks with South African telecom firm MTN for a partnership in its planned GSM foray into the country.

Source: Telegraph