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 Safe Harbor Statement: Statements in this news delivery might be "forward-looking proclamations". Forward-looking explanations incorporate, however are not restricted to, proclamations that express our aims, convictions, assumptions, methodologies, expectations or some other assertions identifying with our future exercises or other future occasions or conditions. These assertions depend on current assumptions, evaluations and projections about our business based, to a limited extent, on suppositions made by the executives.  These assertions are not certifications of future execution and include dangers, vulnerabilities and suspicions that are hard to anticipate. Consequently, real results and results may, and are probably going to, vary substantially based on what is communicated or guage in forward-looking explanations because of various components. Any forward-looking assertions talk just as of the date of this news delivery and iQSTEL Inc. embraces no commitment to refres...
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How SingTel came close to investing in Reliance's telecom venture before picking stake in Airtel

Singapore Telecom ( Singtel), now the largest foreign investor in Bharti Airtel, was keen on doing a deal with Reliance Industries before deciding to pick stake in Sunil Mittal's venture.

 In a new book titled 'Telecom Man', authored by B K Syngal, former Chairman, Videsh Sanchar Nigam Ltd, and co-authored by Sandipan Deb, the authors detail out the sequence of events which led Singtel to move from Reliance to Airtel.

 Syngal, who worked with Reliance in the late 1990s, has written in the book that Singtel was very keen to invest in India and was excited about Reliance's new telecom venture. "I had known the Singtel people for a long time in my previous avatar at VSNL. Lim Lim Toon was the company's chief operating officer. He contacted me and said that Singtel would like to be part of Reliance's grand plans and was willing to invest around $600 million," Syngal said.

 Singtel was not particular about the equity stake they would own but wanted half the investment to be pumped into a dedicated undersea cable between Chennai and Singapore. Reliance was then planning to launch a countrywide mobile network using CDMA technology.

 "Mukesh formed a small team comprising me, Ajeet Verma and others and we were tasked to study the proposal, prepare a term sheet and so on. Lim Toon would fly in for discussions and finally, everything was ready, except for one detail, which was the amount of equity that Singtel would hold - a stake up to computer science or computer engineering," Syngal said in the book published by Westland Publications.
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