Summary
MALAYSIAN BUSINESS: You are doing so well in India. However, you had said you would not invest more in Aircel beyond the acquisition cost of US$1 billion. But you are pumping in more. What has changed? Did you underestimate Aircel?
JAMALUDIN: Actually, it is a whole lot of good news (for us) in India. We invested over RM1.08 billion in Aircel. We are currently operating two circles and are looking at launching in 10 more circles. (Note: India demarcates its country into 23 `circles' for celcos. The right to offer mobile services in each of this circle would need separate licences from the Indian Government.)See the full content of this document
Extract
Staying at the Forefront
No, we did not underestimate Aircel. When we first acquired Aircel, we wanted to wait and see how it performed. So far the growth has been very good. We now need to accelerate the pace of growth (with more capital injection). We are now looking beyond the 12 circles. For now, based on the additional 10 circles, we do not foresee pumping in more money in India.
We have seen the capability of Aircel and want it to grow beyond the 12 circles. As at June this year, Aircel's reach covered a subscriber base of 3.4 million of the In...See the full content of this document
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