Videocon Telecommunications (VTL), the telecom arm of Indian industrial conglomerate Videocon, is to invest up to Rs. 5bn (US$107m) in telecom infrastructure over the next 18 months, reports Business Standard.
Aravind Santhanam, chief operating officer…
Videocon Telecommunications (VTL), the telecom arm of Indian industrial conglomerate Videocon, is to invest up to Rs. 5bn (US$107m) in telecom infrastructure over the next 18 months, reports Business Standard.
Aravind Santhanam, chief operating officer (Tamil Nadu circle) of VTL, was quoted saying that having already invested about Rs. 5bn, it would invest another Rs. 4.5bn to Rs. 5bn to increase the number of towers from 3250 to 5000.
He also said that VTL would look at using infrastructure of other companies to increase penetration.
A few days ago, Videocon chairman V N Dhoot was quoted saying that the company was planning to sell a 26% stake in Videocon once valuation for that business reaches Rs. 150bn (US$3.2bn).
Telling delegates at a business event that the company was currently in talks with foreign firms, he declined to comment on valuation figures.
In March, Videocon launched Indian mobile services using GSM technology, becoming the country’s thirteenth mobile operator.
The company could not be reached for comment.