Virgin Group Says Has Indian Partner for Mobile Launch

Virgin Group's Chairman, Richard Branson says that he has found a local partner in India to launch an MVNO in the country and that details would be formally announced next January.

"We have a (telecoms) partner now, and I will reveal all in two months' time," Branson told Reuters at a conference to mark the first anniversary of Virgin Radio's tie-up with HT Media Ltd for a local radio channel.

Regulations block any foreign investor from holding more than 74% in an Indian telco, and while Branson criticized that limitation - it should be remembered that all his MVNO operations have been joint ventures with local operators taking a sizeable stake in the company.

While Branson declined to name the partner - there were credible reports early this year that the Virgin Group was in talks with the CDMA operator, Tata Teleservices. The rumours resurfaced a few months later with plans to for a typical 50:50 joint venture repositioning Tata's Indicomm brand as a premium product and targeting the Virgin Mobile at the youth market.

Since then there has been silence, until today.

Posted to the site on 19th November 2007