Gemini Comm buys out African telecom firm

Posted by on May 7th, 2010 and filed under Business/Economy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

New Delhi, May 7 (IANS) Network integration and telecom services provider Gemini Communication Friday said it has acquired Africa’s Rosy Blue Wireless (RBW) for an undisclosed sum.

RBW, a telecom and internet services provider, is present in Zambia, Malawi and Mozambique. It is a majority shareholder, with 60 percent stakes each in three joint ventures in these countries.

The JVs of RBW have been allotted wimax spectrum licence in the three countries. Gemini is targeting the entire network rollout for the African firm using the products of its subsidiary.

‘This acquisition is an exciting step in our growth strategy and offers tremendous growth potential… With this acquisition, Gemini will be expanding its lines of businesses into newer verticals as well,’ Gemini managing director Sree Krishna B said in a statement.

Wimax is a system used for providing high-speed wireless internet access.

Categories: Business/Economy

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