By Submarine Cable NewsFeed
Reliance Infocom BV, a division of
Reliance Globalcom and wholly owned subsidiary of India's largest integrated telecom operator Reliance Communications, has announced acquisition of a controlling
stake in eWave World, a UK headquartered telco focused on the rapidly developing market for wireless telephony services using the WiMAX technology
standard.
Over the next 2-3 years, Reliance Globalcom, through the acquired company eWave World, would invest around $500 million (Rs. 2000 crore) to build
and acquire WiMAX networks in emerging markets in Asia, Europe, Latin America and Africa. Recently eWave World had entered into a Joint Venture in China to invest
in nationwide broadband operations. The company holds WiMAX licenses and has received spectrum to commence WiMAX services in several countries.
“The
acquisition of eWave World is a significant step forward in Reliance Communications' global growth strategy to directly reach out to Millions of Customers – both
Corporate and Individual – through a best in class future proof Last Mile network”, said Mr. Punit Garg, CEO – Reliance Globalcom. “The 4G WiMAX network in 50
countries would enable us to offer the most diverse and unmatched suite of services to over 75 % of global population in combination with Reliance Globalcom's
115,000 km fully IP enabled optic network spread across 6 continents”, he added.
“Readily available, reliable and affordable broadband service is critical to
the development of any economy. Today many emerging markets are effectively excluded from the full benefits of the Internet because of a lack of broadband service.
With the backing of Reliance, eWave World will deliver broadband services to business and residential customers in numerous emerging markets. We consider this
represents a very significant opportunity for both eWave World and the countries in which we plan to Invest”, said Mr. Jay Metcalfe, Chairman – eWave
World.
eWave World, was formed by a number of well known Industry veterans with a vision to become a major player in the rapidly developing market for
wireless telecom services using the new WiMAX technology standard. The eWave World Executive team has a combined experience of over 150 man-years in the Global
Telecom Sector.
