Reliance Comm eyes Egypt

In its bid to go global, Reliance Communications, the country's largest CDMA player, is now eyeing the Egyptian mobile market.

The company has formed a consortium with Egypt-based Arab Computer Manufacturing Co, a subsidiary of Mohammad Kharafi and Sons Co, and is among the 11 bidders that have been shortlisted by Egypt's National Telecom Regulatory Authority for the country's third mobile licence.

Sources close to the development said Reliance Communications had submitted its bid on May 4, the deadline for application.

They also added the Egyptian telecom regulator had sought up to eight weeks to assess the technical capabilities of the all the bidders before finalising the qualified ones. Following this, qualified companies will have to submit financial bids and be part of an auction, with a reserve price of $ 434 million.

The Egyptian telecom regulator also said the winner would be chosen not just on financial parameters, but also on the basis of a specific time frame, within which it could set up an operational network.

When contacted, a Reliance Communications spokesperson said: "We do not wish to confirm or deny this development".