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Rediff News  All News  » Business » Virigin eyes stake in telecom firms

Virigin eyes stake in telecom firms

November 18, 2005 14:24 IST

The UK-based Virgin Group plans to enter the Indian telecom market. Richard Branson, chairman and founder of the group, said in New Delhi on Thursday that he was going to Mumbai to hold discussions with interested players about entering the fast growing segment.

According to Branson, Virgin would foray only if it could "shake up the market" and not just be a me-too case.

Branson was in the capital to deliver the fourth in the series of the annual Madhavrao Scindia Memorial Lecture.

Virgin Mobile is a major provider of mobile communications in the UK with over five million customers. Virgin Mobile launched its operations as a mobile virtual network operator (MVNO) in November 1999.

Apart from the UK, the Virgin Mobile also services markets in the US, Canada and Australia.

On Virgin's intention to enter the domestic airline space, Branson said that the UK group would be interested if the laws of the land permitted. India's current aviation laws do not allow foreign airlines to invest in domestic aviation.

Virgin Atlantic airline today commenced daily flights connecting Mumbai with London. It is planning to add a daily flight connecting Delhi with London.

BS Corporate Bureau in New Delhi