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Tata Communications to spend $500 mln on WiMax

Tue Mar 4, 2008 1:57am EST

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NEW DELHI, March 4 (Reuters) - Indian telecoms firm Tata Communications (TATA.BO)(TCL.N) will spend $500 million by 2010 to set up a WiMax network and is looking to sell a stake in its retail business, a senior company official said on Tuesday.

The company expects 200,000 wireless broadband customers by March 2009, Shankar Prasad, president of the firm's retail business unit, said.

WiMax can be used to provide high-speed internet connections over a wide area, and India is banking on the technology to expand broadband services to its far-flung rural areas. (Reporting by C. Jacob Kuncheria, Editing by Mark Williams)



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