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Reliance Infocom BV and eWave World. - by dreamdamodar
Reliance Infocom BV, a division of Reliance Globalcom and wholly owned subsidiary of India's largest integrated telecom operator Reliance Communications on 24 April 2008 announced acquisition of a controlling stake in eWave World, a UK headquartered telco focused on the rapidly developing market for wireless telephony services using the WiMAX technology standard.
Over, the next 2-3 years, Reliance Globalcom, through the acquired company eWave World, would invest around $ 500 Mn (Rs 2000 crore) to build and acquire WiMAX networks in emerging markets in Asia, Europe, Latin America and Africa. Recently eWave World had entered into a joint venture in China to invest in nationwide broadband operations. The company holds WiMAX licenses and has received spectrum to commence WiMAX services in several countries.
eWave World, was formed by a number of well known Industry veterans with a vision to become a major player in the rapidly developing market for wireless telecom services using the new WiMAX technology standard. The eWave World Executive team has a combined experience of over 150 man-years in the Global Telecom Sector.