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Saturday, June 12, 2010

Reliance ADA Group welcomes RIL's broadband entry

NEW DELHI, INDIA: India's Reliance ADA Group, controlled by billionaire Anil Ambani, hailed Reliance Industries' (RIL) entry into the broadband market and said it was looking forward to providing services to RIL and other broadband services providers, a company representative said in a statement.

Reliance Industries, controlled by Anil's long-estranged brother Mukesh Ambani, on Friday said it would buy Infotel Broadband Services for $1 billion.

Infotel is the only firm to win broadband spectrum in all 22 zones in India in an auction that ended on Friday.