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NEW DELHI: Business group Videocon on Wednesday said it will start rolling out telecom network from mid August and is eyeing to garner about 10 per cent the Indian telecom market in five years.

"The group is aiming for 50 million subscribers in five years. The Indian market will have crossed 500 million by then," Mr Venugopal Dhoot said on the sidelines of a conference here.

Videocon, which has got licence for pan-India operations, has got spectrum in three circles and awaiting for the rest.

"We will start rolling out network from August 15 in Chennai," he said. Videocon has been approached by Middle East telecom firms Emirates Telecommunications Corp of the UAE and Qatar Telecom for tie-ups in India, Mr Dhoot said.

The firm had appointed investment bank Morgan Stanley to advise it on the telecom business and any potential stake sales, he said. Earlier, the electronics major had also expressed confidence about acquiring Motorola Inc's handset business. - PTI

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