RCom buys UK Wimax company

Reliance Globalcom, subsidiary of Reliance Communications, has acquired 90% stake in eWave World, a UK-based Wimax service focussed company, for an undisclosed amount.

Written by Corporate Bureau

April 25, 2008 00:30 IST

Reliance Globalcom, subsidiary of Reliance Communications, has acquired 90% stake in eWave World, a UK-based Wimax service focussed company, for an undisclosed amount. Over the next few years, Reliance Globalcom, through eWave World, would invest about $500 million to build and acquire Wimax networks in emerging markets in Asia, Europe, Latin America, and Africa.

Reliance Globalcom plans to launch 4G services in 50 countries by 2012. Punit Garg, CEO, Reliance Globalcom, said, ?The 4G Wimax network in 50 countries would enable us to offer the most diverse and unmatched suit of services to over 75% of the global population in combination with Reliance Globalcom?s 1,15,000 km fully-enabled optic network spread across six continents.? eWave World had entered into a JV in China to invest nationwide broadband operations.

This article was first uploaded on April twenty-five, twenty eight, at thirty minutes past twelve in the am.