According to a report in the Economic Times of India, which quoted industry sources, BT is setting up a new venture in India, where it would have a 74% stake. It is reportedly already initiating moves to form a new company under its BT Telecom India unit.
The newspaper report could not be certain whether BT was looking at looking at a single Indian partner holding 26% stake, or a string of portfolio investors to comply with the FDI regulations.
BT’s reported move comes as that country is in the process of drafting telecoms policy on the carrier access code regime, which would allow Indian consumers to choose their own carriers whilst making long-distance calls.
At the moment, the Indian fixed-line market is controlled by the likes of BSNL, Tata Teleservices, and Bharti Tele-Ventures. The mobile market is Hutchison, Airtel, and Essar.
Content from our partners
