The technology's spectrum efficiency, low cost and simple installation make it the next big thing in the telecom world.
The companies are expected to announce the deal soon.
Eldest brother may buy part of the shares; private equity to pick up rest.
Shrinking tariffs and falling handset costs have made Indian telecom subscribers the most pampered lot. Though it has resulted in a declining average revenue per user (ARPU) for service providers, they are not complaining as yet.
In 2000, when Internet companies across the world were shutting shop, this start-up refused to join the crowd and continued with its operations despite the losses -- a move that defied conventional business logic at that time.
The Ruias of Essar have rejected an offer by the Aditya Birla group's Idea Cellular to acquire BPL Mobile's Mumbai circle, which lost heavily on its valuations due to the corporate battle between its shareholders.
The Anil Ambani group company has tied-up with an online video networking firm, CrickeM.com, to enable customers to upload, view and share their cricket videos with the rest of the world.
India's 140 million mobile subscribers make missed calls to convey a pre-agreed message.
Hutchison Telecom is expected to complete the sale of its 67 per cent stake in the country's fourth largest telecom company, Hutchison Essar, before the Chinese New Year holiday, which begins February 17.
The mobile industry, with over 136 million subscribers and a 4 million new users adding up per month, is expected to turn the tides for the music industry.
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