Reliance Globalcom acquires majority stake in eWave World

Reliance Communications has announced that their subsidiary Reliance Globalcom has now acquired 90 per cent stake in eWave World.

eWave World is a UK based telecom company which specializes in offering wireless telephony services using WiMAX technology.

The financial aspects of this deal have not been revealed to the media.

Punit Garg, CEO of Reliance Globalcom said in a statement that they are considering investing $500 million over the next couple of years to build and acquire WiMAX networks in world markets.

It’s sad that the company continues to provide rather pathetic wireless broadband services here in India.

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