Reliance Infocom BV, a division of Reliance Globalcom and wholly owned subsidiary of Reliance Communications, announced in Mumbai, on Thursday, the acquisition of a controlling stake in eWave World, a UK headquartered telco focused on the developing market for wireless telephony services using WiMAX technology standard.

Big ticket spend

Over the next 2-3 years, Reliance Globalcom, through eWave World, would invest around $500 million (Rs 2,000 crore) to build and acquire WiMAX networks in emerging markets in Asia, Europe, Latin America and Africa.
Recently eWave World had entered into a Joint Venture in China to invest in nationwide broadband operations.

The company holds WiMAX licenses and has received spectrum to commence WiMAX services in several countries.
eWave World, was formed by a number of well known industry veterans with a vision to become a major player in the rapidly developing market for wireless telecom services using the new WiMAX technology standard. The eWave World Executive team has a combined experience of over 150 man-years in the Global Telecom Sector, said the release.