Verizon To Seek Telecom Licence In India In Partnership With Videocon?

Close to the heels of Russian telco Sistema’s forray into the Indian telecom market by acquiring a stake in Shyam Telelink, consumer electronics company Videocon has announced that it’s applying for a pan-India (22 circles) mobile licence, reports ET. Videocon Chairman Venugopal Dhoot has said that they have partnered with an American company, and speculations are rife that it might be Verizon (NYSE: VZ).
Verizon already owns 74 percent in Verizon Communications India, a joint venture with Videocon subsidiary Leo Communications. The JV intends to offer International Long Distance services in India, and it’s possible that the partnership might be extended to cover mobile telephony. The foreign direct investment limit for telcos in India is 74 percent.
There have been a spate of announcements from telecom licence applicants in India in the recent days; overburdened with (reportedly) 180 applications for Universal Access Service Licences, the government has set a deadline of October 1st…so send yours in asap, willya. The Indian government is also mulling a change in policy for awarding licences. India has a teledensity of 21.20 percent and adds 7-8 million subscribers every month. Complete details here at our sister site ContentSutra..