Reliance Buys eWave

Reliance Globalcom acquires global WiMax operator eWave World

April 24, 2008

1 Min Read

MUMBAI, India and LONDON -- Reliance Globalcom, a subsidiary of India’s largest integrated telecom operator Reliance Communications, today 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 Mn (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 1,15,000 km fully IP enabled optic network spread across 6 continents”, he added.

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