The Hindu Business Line : Atlas Group in pact with ZTE for mobile foray

COINCIDING with the visit of the Chinese Prime Minister, Mr Wen Jiabao, the Delhi-based telecom solutions provider Atlas Telecom on Monday signed an agreement with Chinese equipment vendor ZTE Corporation to foray into Global System for Mobile (GSM) based cellular telephony services across 12 circles.

ZTE will provide financial support of up to $1 billion to the Indian company, which has revenues of $350 million.

Atlas Telecom, a subsidiary of Rs 1,300 crore Atlas Group and ZTE have already met with Sinosure, ABN AMRO Bank, China Construction Bank and other institutions in China to present the Atlas business model and its future business plans. The partnership could result in a joint venture between the two companies, according to executives in Atlas Telecom.

The company is proposing to set up a GSM and basic services operation in India under the unified access licence regime and is acquiring a licence for Delhi, Mumbai, Maharashtra, Karnataka, Andhra Pradesh, Tamil Nadu, Madhya Pradesh, UP (East), UP (West), West Bengal, Punjab and Himachal Pradesh. The alliance has identified total investments worth $400 million for funding operational expense.

Atlas and ZTE also signed a contract for supply of 50,000 ports broadband system. The two companies have an existing collaboration for offering broadband solutions in the country.

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