Virgin Mobile plans JV with Tata Tele: report
Virgin Mobile is set to form an equal joint venture with India's second-largest CDMA mobile operator, Tata Teleservices Ltd., according to a report citing unnamed sources.
Virgin, part of British communications group Virgin Media, would license its Virgin Mobile brand and technology expertise in value-added services and handsets to Tata Teleservices, the report said.
A spokeswoman for Tata Teleservices declined to comment.
Tata Teleservices and its subsidiary, Tata Teleservices (Maharashtra) Ltd., provide services in 20 of India's 23 telecoms zones, and had 11.4 million mobile subscribers at end-March.
India is world's fastest growing mobile services market with more than 6 million subscribers signing up each month, and that has attracted the interest of foreign companies.
Earlier this month, Britain's Vodafone Group Plc completed its purchase of a controlling stake in Hutchison Essar, India's fourth-largest mobile firm .
SingTel, Southeast Asia's largest phone firm, owns 30.8 per cent in leading mobile services firm Bharti Airtel.