i Develop Stocks Advisory

R-COM plans $500 mn investment in Uganda Reliance Communications has acquired Uganda-based Anupam Global Soft, a company holding public infrastructure provider license and public service provider license issued by Uganda communication commission. Under the existing licenses, Reliance Communications targets to offer mobile, fixed line, internet, national and international long distance services, in addition to WIMAX and WIFI services in Uganda. This company has received spectrum allocation and plans to launch its mobile services by end of 2008. Reliance Communications is targeting to invest upto $500 million in establishing a high quality, fully-IP enabled integrated telecom network in Uganda to capture the significant growth potential in this emerging African market. “Reliance Communications has expertise in managing worlds largest integrated telecom network, and deep understanding of diverse consumer segments makes us confident to achieve a significant position to add further value for our 2 million shareholders,” said Punit Garg, President, Global Business, Reliance Communications. The company plans to connect the African continent with rest of the world by laying a submarine cable system through its arm Reliance FLAG plans to spend $1.5 billion in building a 1,15,000 km fully-IP enabled optic network. As per the information, Uganda has 3.016 million mobile subscribers by end-March 2007, equivalent to a penetration rate of 10 per cent, providing ample scope of expansion