Videocon to roll out telecom services in Aug, eyes 10% market share

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New Delhi, May 21 (UNI) Videocon Group today said it will roll out its telecom network from mid- August, with an aim to capture 10 per cent market share of the country's booming telecom sector in the next five years.

''We are aiming for 50 million subscribers in five years.

The Indian market will have crossed 500 million subscribers by then,'' Videocon Industries Chairman Venugopal Dhoot said here today, adding that they have got spectrum in South India and will roll out services from August 15.

The group is also planning to have a 360 degrees approach to the telecom business, with launch of services in 22 circles through its subsidiary Datacom.

To support its telecom business, Videocon will manufacture handsets at its new plant in Kashipur, Uttarakhand.

The group seeks to share passive infrastructure wherever possible with interested players, and it is also considering to rop in a foreign partner for its telecom business.

The UAE's Emirates Telecommunications Corporation, and Qatar Telecom have approached the group for tie-ups in the country, Mr Dhoot said.

Videocon has appointed Morgan Stanley as an advisor to the business and any potential stake sales, he added.

UNI AK SG ND1616

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