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Nahata Exits, Datacom Is Now Videocon Telecommunications Ltd

Things seem to finally be looking up for Datacom: the telco has been dormant for three years now due to a conflict between its owners. It may finally be rolling out in March, reports Moneylife. Datacom has been renamed Videocon Telecommunications Ltd by the BSE-listed Videocon Industries, but there is no website for the telco nor any mention of the new subsidiary.

Earlier there were reports that VTL was to launch on February 20: PTI reported the company planned to roll out pan-India within 18 months and expected to become profitable in three-five years. VTL owns GSM licenses for 21 telecom circles. According to Moneylife, an investment of Rs. 90 billion has been earmarked, with plans to add 500 or more outlets. Videocon already has a fairly large retail network with DIGIworld and NEXT Retail India chains. It also has a range of handsets: Videocon Mobile Phones and is a DTH provider with d2h. Etisalat DB Telecom India is another telco that is yet to be launched.

Datacom had signed an infrastructure-sharing agreement with Tata Teleservices in August, 2009 and a $400 million tower sharing deal with Aircel for 5000 towers in September 2009.

Nahata Out

On January 28, the corporate struggle between the Dhoot family (which owns consumer electronics conglomerate Videocon Group) and the original promoter Mahendra Nahata finally came to an end with Nahata getting close to Rs 14 billion to exit the business, reported the Hindustan Times.

Read: Timeline of the Datacom Dispute

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The company has been in the radar of foreign telcos, the most recent being French telco Vivendi, but were put off by the dispute. Will the resolution now also open its doors to interested investors?

Related

Vivendi Eyeing Stake In Datacom?
Report: Datacom Stakeholders Might End Dispute; Has The Delay Helped?
Nahata Says He Is Not Planning To Exit Datacom
Raj Kumar Dhoot Takes Over As CEO of Datacom, As Ravi Sharma Resigns
Datacom In Talks With Four Foreign Telecom Cos For Investment; Spectrum For New Telcos

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