Skip to main content

Company News

France Telecom finalises joint venture with Moser Baer(The Hindu Business Line 26th Feb 2008)France Telecom-owned Orange Business Services has finalised a joint venture partnership with Indian storage devices manufacturer Moser Baer Ltd to foray into the long distance telephony segment. The company is awaiting clearance from the Department of Telecom for obtaining the licence.
Orange Business Services has been offering enterprise communication solutions to large multinationals in India. However, it has now applied for a licence after the Government made it mandatory for companies to obtain a national long distance licence for offering IP-based services such as virtual private network.
The company is not expected to foray into the retail long distance telephony segment. France Telecom is one of the largest telecom service providers in Europe. It had earlier exited from the Indian market after it sold out its stake in BPL Mobile.
However, recently, it had acquired GTL’s IT unit in a bid to enhance its offering in the country. Senior DoT officials said that the company’s application was being processed. When contacted Orange Business Services said, “India is a key market for Orange Business Services and we will take all essential steps that will help us serve better our multinational customers in this country. We are looking at expanding our licence portfolio in India and will make an announcement at an appropriate time.”
Indian enterprise communications segment has become highly competitive with the entry of global telecom companies including AT&T, BT and Cable & Wireless. While AT&T and BT have already launched their services, others including Verizon are in the process of obtaining Government clearances. Orange Business has already got the permission from the Foreign Investment Promotion Board. More
Labels:

Comments

Post a Comment

Popular posts from this blog

Stock Market says Merry Christmas to Investors

Sensex today closed 691.55 point up at 19854.12 , Nifty was up 218 points at 5985.10. It is the 6th bigeest gain in oneday. Today's main contributors are IT stocks. Wipro was up at 535.30 (+8.86%), Infosys up at 1810.90(+6.63%) and Satyam closed at 454.55 up by 6.28%. The buying activity was wide-base and lifted almost all the sectoral indices. Sector wise performance was as follows - BSE IT 4581.61 (+260.98) BSE Healthcare 4294.83(+52.30) BSE FMCG2218.74(+20.29) BANKEX 11101.74 (+363.15) BSE Auto5586.83(+45.57) BSE TECk3961.96 (+185.00) BSE PSU 9830.01 (+317.11) Today BSE Midcap closed at 9211.71 up by 186.17 and BSE Smallcap index closed at 11980.57 up by 167.25 points.
Post a Comment
Read more

News - Economy

Interest rates unlikely to go down (The Economic Times 4th Jan 2008)Interest rates are unlikely to fall in near future as it was expected with the State Bank of India raising the fixed deposit rate of various maturities up to 1.5 percentage points. Other banks are also planning to raise deposit rates. After SBI increasing deposit rates, other banks have no choice but to raise the rates to mobilize resources in the domestic market, chairman of a public sector bank said. As the cost of funds for banks will increase, they will resort to raising the lending rates. A senior banker said banks would announce the increased rates in near future. More Gold zooms past Rs 11,000 per 10 gm (The Hindu Businessline 4th Jan 2008)Gold prices made history as they soared to a record $ 865.35 an ounce in the London A.M fixing on Thursday, tracking which the domestic gold surged to Rs. 11,000 per 10 gm. On Wednesday, gold was fixed at $ 840.75/oz in London while in the Indian market it quoted at Rs 10,70
Post a Comment
Read more

IIP records negative growth of 0.4% in Oct

T he country's industrial output shrunk for the first time in many years to a record a negative growth of 0.4 per cent in October, stifled by manufacturing sector -- for rescuing which the government announced a stimulus package earlier this mo nth. Output had grown by 5.45 per cent in September, and 12.2 per cent in October, 2007. The Index for Industrial Production numbers for the seven-month period ended October was 4.1 per cent against 9.9 per cent a year ago. Manufacturing sector, which accounts for 80 per cent of the index, declined to 1.2 per cent from 13.8 per cent in the year-ago period. Only earlier this month, the government sought to rescue manufacturers by announcing an across-the-board (barring petroleum goods) four per cent cut in excise duty. Electricity sector grew by 4.4 per cent during the month, bettering 4.2 per cent output of the year-ago period, while mining sector grew by a slower 2.8 per cent against 5.1 per cent in the previous year's comparable period
Post a Comment
Read more