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Wednesday, January 17, 2007
LONDON/MUMBAI: British billionaire Richard Branson's Virgin Mobile is readying to enter the Indian market in a venture with Tata Teleservices (Maharashtra) Ltd., the Times reported on Wednesday.
Tata Group Chairman Ratan Tata was understood to be in talks with Virgin about the British mobile firm becoming an exclusive franchisee of his conglomerate's telecoms arm, the newspaper said without citing sources.
The tie-up could be operating as early as April, it added.
A comment was not immediately available from Virgin Mobile.
A spokesman for Tata Teleservices declined to comment on the report.
"We receive alliance proposals from time to time, and would announce any agreement we may enter into when appropriate," he said.
TTML, the listed arm of Tata Teleservices Ltd., provides fixed-line and CDMA mobile services in Maharashtra and Goa.
The salt-to-software Tata group last August ruled out selling stakes in Tata Teleservices Ltd. to foreign companies.
British mobile operator Vodafone Group Plc, a rival of Virgin Mobile, also has its eyes on India. The firm is vying with Indian companies to buy mobile phone carrier Hutchison Essar.
(Additional reporting by Rina Chandran in MUMBAI)
Source: Reuters
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