Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Reliance Jio Infocomm is looking to hire nearly 3,000 people at regional levels to set up its retail and distribution chain as the Reliance Industries unit gears up to launch its much-awaited fourth-generation telecom services next year.
The company has been on a hiring spree earlier, too, but “this one is different”, a person familiar with the process told ET. Earlier, it was hiring people with potential to plan and now it is recruiting people to execute the strategies, this person said, indicating that the company is in advanced stages of its plan to roll out services.
Jio Infocomm that got its first 4G licence along with airwaves in an auction in 2010 has been working on a go-to-market strategy for four years. The yet-to-be-launched 4G high-speed broadband services are backed by Rs70,000-crore investment from Reliance Industries, including Rs24,000 crore on airwaves. Original post at ET Telecom