FLAG, Yipes come under Reliance Globalcom (The Hindu Business Line 21th Feb 2108)The Anil Ambani-controlled Reliance Communications has consolidated its overseas telecommunications operations into a new business unit, whose shares will be listed in the near future. Christened “Reliance Globalcom,” the new entity will manage the consolidated operations of Flag Telecom, Yipes enterprise Services Inc and other global businesses of RCom, said Mr Punit Garg, President of Reliance Globalcom. Reliance Globalcom will spend about $2 billion in capital expenditure over the next three years, said Mr Garg. Subsequently, Yipes and FLAG have been re-branded, as Reliance Globalcom Services Inc and Reliance FLAG respectively. Reliance Globalcom will have annualised start-up revenues of $1.32 billion (Rs 5,279 crore) and EBIDTA of $334 million (Rs 1,337 crore). It will target the global telecom space which has an addressable revenue potential of $285 billion (Rs 1,14,000 crore). The consolidation proce...
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