Bycell eyeing Indian mobile market

11 Jan 2006

The Indian mobile market could soon see the arrival of yet another mobile operator in the form of Switzerland’s Bycell Holding, after the company was given regulatory approval to form a joint venture in the country, according to the Economic Times. Bycell is looking to form a partnership with a local business to provide GSM services in the circles of Assam, Bihar-Jharkhand, North East, West Bengal and Orissa. Its proposal to invest USD100 million over three to four years and take a 74% stake in the venture has been cleared by the foreign investment promotion board. Alternatively, Bycell is permitted to acquire a stake in an existing operator after forming the partner company.