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RCom Acquires African Telco; IPO For Global Telcom Ops Reliance Globalcom

Update: The Hindu reports that Reliance Communications has acquired Uganda based Anupam Global Soft, which holds telecom licenses for Uganda: a public infrastructure provider licence (PIPL) and public service provider licence (PSPL), which allow it to offer mobile, fixed line, Internet, National and International Long Distance services, as well as WiMax and Wifi. RCom is looking to invest up to $500 million to establish an IP enabled integrated telecom network in Uganda. The terms of the deal have not been disclosed.

Original story: PTI reports that Reliance Communications has acquired an African company for around $500 million, through which it intends to offer telecom services in Uganda. Contentsutra contacted Reliance Communications for a confirmation, but the company has refused to comment on the story.

This move comes a day after the announcment of the ADA Group consolidating its global telecom operations under a single brand – Reliance Globalcom. Reliance Globalcom includes undersea Internet bandwidth carrier FLAG Telecom (acquired for $211 million) and Yipes (acquired for $300 million). It will also include voice services including Reliance India Call, Reliance Global call, Reliance Netcall and Reliance Passport. Punit Garg, President of Reliance Globalcom tells Reuters that the company will “definitely look for an IPO in the near future.” This comes shortly after Reliance Infratel filed its Draft Red Herring Prospectus, and there have been rumours of an IPO for Reliance Entertainment.