Jio Platforms has approached Comcast and Charter Communications to trade its wireless home broadband technology for potential equity holdings. Reliance envisions recruiting between 10 and 15 worldwide partners to adopt the system, though no official timelines for deals have been established. Similar talks with South Africa's MTN Group collapsed following disagreements over valuation metrics and licensing terms. The technology functions by utilizing rooftop transmitters on unlicensed Wi-Fi spectrum to beam signals directly to buildings as a cheaper alternative to cable.
Key points
Jio Platforms is targeting global expansion by offering proprietary broadband technology…: Jio Platforms is targeting global expansion by offering proprietary broadband technology in exchange for equity stakes in partner companies.
The international push follows a record-breaking $3.2 billion initial public offering by…: The international push follows a record-breaking $3.2 billion initial public offering by Jio Platforms in Mumbai.
Potential deals remain uncertain as financial terms stay undisclosed and prior negotiatio…: Potential deals remain uncertain as financial terms stay undisclosed and prior negotiations with overseas telecom operators have already faltered.
Sources checked by our analysis pipeline: 1
LONDON/NEW DELHI, Nov 3 : Indian billionaire Mukesh Ambani's Jio Platforms has held talks with several companies including Comcast and Charter Communications about licensing its wireless broadband technology in exchange for potential stakes in the businesses, two people familiar with the matter said.
Jio also held discussions with South Africa's MTN Group, but the talks broke down because the two sides were unable to agree on valuation and certain licensing issues, the people said.
The people said there was no timetable for reaching a deal with any of the parties that Jio has spoken to.
Jio, which listed in Mumbai last week after a record-breaking $3.2 billion IPO, did not respond to Reuters queries.
Spokespeople for Comcast and Charter declined to comment.
Controlled by Ambani's Reliance Industries, Jio has for months signaled plans to expand internationally with its proprietary broadband technology, which Reliance calls a “global first”.
The system runs on free, unlicensed Wi-Fi frequencies, making it cheaper to deliver internet to homes than traditional cable networks or mobile-based services.
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