Cable & Wireless gets FIPB nod to launch ILD services.
Economic Times (New Delhi, India), May, 2007
May 16--NEW DELHI -- UK-Based telecom player Cable & Wireless (C&W) has obtained the government's nod to launch long distance telephony services in India. The approval was granted by the Foreign Investment Promotion Board (FIPB). C&W becomes the third international telecom major to obtain the FIPB nod after US-based AT&T and British Telecom (BT), both of which have recently launched long distance services in India.
The business generated by the long distance segment in India is estimated to be worth over Rs 10,000 crore. The $6-billion C&W group, which traces its history to John Pender the founder of British Indian Submarine Telegraph Company, the company that rolled out India's first submarine telegraph cable between Bombay and London in 1870, will now be...
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