Telefonica’s India plans

Category: News | No Comments | Posted on November 29, 2005

Spain’s Telefonica Moviles is exploring investment opportunities in India. Telefonica’s CFO, Ernesto Lopez Mozo, is coming to India on Saturday to initiate exploratory process.

Mozo is scheduled to meet the top brass at Reliance Infocomm, a company which like Telefonica is banking on data becoming a revenue generator in future, a source said…

He has also lined up meetings with Reliance Industries Ltd (RIL) for telecommunication opportunities in the proposed Mahamumbai special economic zone being set up by the Mukesh Ambani-controlled Reliance group across the harbour in New Mumbai.

Telefonica recently bought UK cellco O2 for $31.6bn. It is the sixth largest operator in the world in terms of market capitalization and 55% of its customers come from the Latin American region.

Source: Business Standard