Indian government likely to allow Saudi Telecom to enter the country.(POLICY & REGULATION)

The Indian government is expected to allow Saudi Telecom to enter the country's telecommunications market via its recent purchase of a 25 percent stake in Malaysia-based Maxis Communications, which owns 74 percent of Indian cellular firm Aircel Cellular. The Reddy family holds the remaining 26 percent of Aircel.

Saudi Telecom spokesman Saud ibn Dafer Al-Qahtani stated that this contract would allow the telecom firm to enter Indian and Malaysian markets. The $3 billion contract will provide Saudi Telecom with an 18.5 percent stake in Aircel Cellular. However, Aircel would need the approval of the Foreign Investment Promotion Board for making changes in the shareholding structure.

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.

BNET TalkbackShare your ideas and expertise on this topic

CXO UnpluggedSmart Business interviews on BNET

See and hear how senior level executives across the Asia Pacific are developing smart business ideas across a variety of sectors. The focus is on the future, and on how businesses need to evolve.