MindTree tried its hand at making wireless handsets but failed. Now co-founder Ashok Soota has moved on to start a competing business.
Affordability and broadband will be the two major factors that will help tap the remaining market.
The company has set up its new network platform in India entailing an investement of $30 million which would offer telecom and connectivitysolutions to over 150 customers in the country including banking, insurance and software firms, Cable & Wireless India managing director Sunanda Das said.
It has rejected a proposal by Subash Chandra-promoted Wire and Wireless India, which has sought permission to issue partly paid-up equity shares, pursuant to its rights issue. WWIL is in the cable network business. The shares were to be issued to non-residents, which also included FIIs, venture capital funds, multilateral and bilateral development financial institutions, and eligible NRIs for cash aggregating up to Rs 450 crore (Rs 4.5 billion).
Zee Telefilms Ltd has formally demerged the company into three entities effective December 18, after it received Bombay high court approval for the split.
Chandra said WWIL, perceived as trailing the pack in Mumbai, had actually accounted for 75,000 set-top boxes in Mumbai out of the 150,000 installed in the new conditional access system environment being ushered into the city.
Media conglomerate Zee Group's demerged group firms Zee News and Wire and Wireless (India) Limited on Wednesday got listed at Rs 50 and Rs 80 respectively
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