Videocon and Verizon to offer international long-distance (ILD) services in India
February 9th, 2007 Leave a comment Visited 40 times, 1 so far today
Videocon and Verizon to offer international long-distance (ILD) services in India
US telecom giant Verizon is collaborating with Indian consumer electronics maker Videocon to offer international long-distance (ILD) services in India.
Verizon has been interested since quite some time to enter the Indian market by offering long-distance calls. They have now formed a JV — Verizon Communications India —with Leo Communications which is part of the Videocon group.
This joint venture company is rumored to have already applied for a license to provide ILD services. Market sources claim that the initial investment in this group is in the region of around USD 30 million.
Verizon will hold 74% in the JV to meet the requirements of FDI regulations in India.
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