The country’s second largest mobile phone company, Reliance Communications Ltd (RCom), today said that it will integrate its global telecommunications business under a new subsidiary, Reliance Globalcom. The new entity also plans to come out with an initial public offer (IPO) in the near future. However, the company did not share any details about the offer. The Tata group had also recently consolidated its global telecom business under Tata Communications.London-headquartered Reliance Globalcom will integrate RComm’s existing services like global voice, managed network, carrier ethernet, and fibre capacity businesses into a single group. Reliance Globalcom would target the global telecom arena, which has a revenue potential of $285 billion. With consolidation of the global business, Reliance Globalcom will have annualised start-up revenues of $1.32 billion, a company statement said. RComm chairman Anil D Ambani said, “In creating Reliance Globalcom, we are aligning our global communications strategies into a single vision to create one of the top five global communications companies in the world.” The company is investing about $1.5 billion for implementing four new submarine cable systems — in Asia, Africa, the Mediterranean and the Pacific region. The voice services, popularly known as Reliance India Call, Reliance Global call, Reliance Netcall and Reliance Passport, will also come under Reliance Globalcom.
