Business News This Week
Reliance Industries Limited (RIL), the flagship company of the Reliance Group has re-entered the telecom space after buying Nahata-owned Infotel for Rs 4800 crore. According to media reports RIL took 95% stake in Infotel Broadband Services.
India’s largest private sector firm RIL reportedly acquired Infotel which belongs to Anant Nahata, son of HFCL owner Mahendra Nahata. This acquisition become possible only after the RIL – ADAG pact which was resolved dispute among the two Ambani brothers a month ago.
It has been reported that RIL’s entery into the telecom sector aims at acquiring the leadership position in the Indian telecom market . It is also trying to be among the countries providing world-class 4-G network and services.
According to some of the analysts, broadband penetration in India has reduced to some extend and there will be any recovery or not will be known only after RIL will start offering their services. The RIL’s diversified business strategy will be visible in the market once the company starts its offering wireless broadband internet services. RIL has become the only company in India in the arena to provide those sort of services.
0 comments:
Post a Comment