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Corporate - Diversification
Videocon seeks telecom licence

New Delhi, Sept 27

The rush for telecom licences continued today with consumer durables major Videocon entering the fray. The company has applied for a pan-India unified telecom licence and is in talks with a US-based telecom player for setting up a joint venture. This takes the total number of new applicants to 16 with many more expected to join the race before the October 1 deadline. The Hindujas and Omaxe are among those who are expected to put in their application with the Department o f Telecom though the two companies did not confirm such a move. The list of licence seekers includes Unitech, Parsvnath, DLF, Indiabulls, Shyam Telelink, Stel, Swan, Cheetah, Datacom and HFCL.

— Our Bureau

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