RCom Acquires An African Firm To Offer Telecom Service In Uganda

Submitted by Sarika Valecha on Fri, 02/22/2008 - 04:58

Anil Ambani owned Reliance Communications has acquired an African company for about Rs 2,000 crore to offer telecom access services in Uganda. The move comes a day after the announcement of formation of Reliance Globalcom, the umbrella brand for all its international businesses.

Reliance has recently got the permission to offer GSM and CDMA technology based mobile services in India and looking to evaluate inorganic growth opportunities in emerging markets like Asia and Africa.

RCom Chairman Anil Ambani said that the company would be investing over Rs 24000 Crores in Capex next fiscal. Merchant banking sources indicate that around 35% of this amount would go in expanding the global business, around Rs 800 Crores in expanding the footprint of Ethernet services and Rs 1200 Crores in data centres.

RCom acquired FLAG in 2003 and Yipes last year and this is the third global acquisition of the company.

Shares of the company on Thursday were trading down 0.62 per cent or Rs -3.60 at Rs 590.30 in Afternoon trade on the NSE.


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