17 Jun 2009, 1128 hrs IST, ET Bureau & Agencies
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NEW DELHI: Reliance Communications (RCom) is in exclusive talks with French telecom infrastructure provider Alactel-Lucent to award a $500million (Rs 2,500 crore) operations and maintenance contract.
Last year, Reliance and Alcatel formed a joint venture for network management services, with the Indian company holding 33 percent and the French company owning the rest.
Last week, Reliance Communications entered into a marketing JV with Krishak Bharati Cooperative Limited (KRIBHCO) for selling its products in rural India.
The JV company known as KRIBHCO Reliance Kisan Ltd is aimed at synergising the strengths of both companies to create a rural distribution model for sales of telecom and non-telecom products.
KRIBCO will hold 60% equity in the JV company with the balance 40% held by Reliance ADAG.
RCOM’s tie-up aims to be a counter to that of Bharti Airtel, which has a similar JV with Indian Farmers Fertiliser Cooperative (IFFCO), the country’s largest fertiliser PSU unit.
In May, Bharti and IFFO had formed IFFCO Kisan Sanchar Ltd (IKSL) and said that the JV would harness the power of telecom to add value to the farm sector. Here IFFCO has a 50% stake while Airtel and Star Global have 25% each.
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