SingTel Scouts for More Partners in India
SingTel is scouting for a joint venture partner in India to provide telecom services to corporate customers.
Industry sources said SingTel will not be partnering with the Bharti group with whom it has several JVs in the telecom space.
SingTel's investments in the subsidiary would be routed through SingTel Australia Holdings, where the telecom major would holds a 74% stake.
The balance 26% would be offered to its Indian partners, the sources said.
The JV proposes to provide internet and telecom services such as IPLC, voice and data services, ILD and NLD for corporate customers.
The JV will also set up internet exchange services in India, international ethernet services, virtual private networks, international long distance and domestic long-distance voice and data services.
According to sources, the Indian partner has not yet been finalized.
SingTel however has already filed an application with the Foreign Investment Promotion Board (FIPB) for the venture, sources said.
The Bharti group, meanwhile, has already given a no-objection certificate for the proposal.
SingTel, which currently holds 15.6% in Bharti Airtel, may end up as a competitor to Bharti in various enterprise communication services, the sources further said.