Tata Communications Ltd. may look at offering telecommunication infrastructure services to Reliance Industries Ltd., as the Indian energy company led by billionaire Mukesh Ambani prepares to launch wireless broadband services.
Tata Communications "would be as interested like any others in serving them with our back bone (telecom infrastructure) or with other services," Srinivasa Addepalli, senior vice president for corporate strategy and communications at the Tata group firm, told Dow Jones Newswires Thursday.
Tata Communications provides video conferencing suites and operates undersea cables, offering network connectivity.
A spokesman for Reliance Industries declined to comment.
Reliance, India's largest company by market value, in June 2010 paid INR48 billion ($975 million) to buy 95% of Infotel Broadband Services Ltd., which won a government auction of radio waves to offer wireless broadband services across India. Reliance plans to offer fourth-generation wireless broadband services by mid-2012, along with a range of tablet computers for different income groups, a person familiar with the matter told Dow Jones Newswires in October.
Reliance has been in talks with other service providers, similar to Tata Communications, to lease telecom infrastructure such as towers and fiber optic bandwidth. This is in line with its stated plan of following an "asset-light" approach, meaning that it will sign contracts with service providers, infrastructure providers and device manufacturers, rather than build everything up from scratch.
Any business from Reliance could help Tata Communications add revenue and narrow losses.
On Thursday, Tata Communications reported a consolidated net loss of INR1.65 billion for the second quarter ended Sept. 30, compared with a loss of INR2.03 billion a year earlier. Total income rose 12% to INR33.76 billion.
Its losses narrowed despite a more than 83% surge in interest costs. Quarterly earnings before interest, tax, depreciation and amortization rose 60% on year, while total costs were up about 9%.
The company's stock closed 4.7% up at INR195.80 Friday on the Bombay Stock Exchange, where the benchmark index fell 1.0%.
Source: http://www.totaltele.com/view.aspx?ID=469173
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