Virgin Mobile approaches FIPB for ISP license: Sources
Published on Fri, Feb 05, 2010 at 19:35 | Source : CNBC-TV18
Updated at Sat, Feb 06, 2010 at 11:13
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Virgin Mobile approaches FIPB for ISP license: Sources
Virgin Mobile has approached the foreign investment promotion board for an ISP (Internet Service Provider) license, reports Kritika Saxena quoting sources.
Virgin Mobile has approached the foreign investment promotion board for an ISP (Internet Service Provider) license, reports CNBC-TV18's Kritika Saxena quoting sources.
Why would they be looking for ISP license?
The company maybe looking at bidding for WiMax spectrum, now being a foreign company they can't do so alone. They would be looking at joining hands with TTSL (Tata Tele Services) through revenue sharing agreement. When would this happen is unclear. When contacted Virgin Mobile said, it cannot offer comment on ISP license as of now and is currently functioning as mobile services brand of TTSL.
Future plans
The company plans to spend Rs 900 crore over the next year for various services. Going forward, they would be largely investing in voice, data and value added service packages, and would spend Rs 500 crore till September 2010.
Virgin Mobile has approached the foreign investment promotion board for an ISP (Internet Service Provider) license, reports CNBC-TV18's Kritika Saxena quoting sources.
