Reliance to take conservative stand in bidding for Hutch-Essar

Mumbai, Feb 1 (UNI) Telecom major Reliance Communications today said it will take a conservative stand in bidding for India's fourth largest mobile player Hutch-Essar for which it is vying with UK's Vodafone, Hinduja's and Essar Group.

Reliance Communication chairman Anil Ambani, in a statement issued here, said ''We are in the process of market consolidation.

We see it (Hutch-Essar) as a great synergy with Reliance Communications. We are watching the development and this opportunity would be decided over next few weeks.'' He was talking to analysts in the post-Q3 result scenario.

Anil Ambani Group company Reliance Communication will invest Rs 11,000 crore in the next financial year. It will erect 20,000 towers in the next fiscal year, facilitating the company to cover 20,000 new towns.

The company will also launch Internet Protocol television (IPTV) and DTH services by the end of this year, Mr Ambani added.

UNI