AT&T Majority Owned Venture Gets India Telecom Licenses

AT&T Inc. said Monday its majority owned joint venture, AT&T Global Network Services India Private, has become the first foreign telecom operator in India to secure national and international long-distance licenses.

The Indian government's new policy on foreign direct investment allows up to 74% foreign ownership for companies doing business in the country.

AT&T owns 74% of AT&T India, with the remaining 26% held by Mahindra Telecommunications Investment Private Ltd.

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Posted to the site on 9th October 2006