Reliance contract win could be huge for VSNL
Financial Express: One of India’s biggest company, Mukesh Ambani led Reliance Industries Ltd has invited expression of interest (EoI) from the Tatas-controlled Videsh Sanchar Nigam Ltd (VSNL) to meet the bandwidth requirement of its 1500-city foray into retail. Reliance is planning a major foray into the retail venture, it would require to connect all its stores to its central server with lots of data transfer. Officials said that RIL has also asked VSNL (NYSE: VSL) for similar EoI for managing the entire IT solutions of the company. RIL recently announced its ambitious retail foray with an equity investment of Rs 10,000 crore to be gradually scaled up to Rs 25,000 crore. it is aiming at retailing food and grocery products across 1,500 towns and cities in the country.
This could be big positive news for VSNL to enter into retail in a big way with Reliance where it could enter newer markets and spread its network in rural small towns and cities where until now it didn’t have much presence.
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