AT&T becomes first foreign-owned long-distance licensee

10 Oct 2006

AT&T of the US says its majority owned joint venture AT&T Global Network Services India Private (AT&T India) has become the first foreign telecom operator in India to secure domestic and international long-distance licences, according to Dow Jones. AT&T owns 74% of AT&T India, with the remaining 26% held by Mahindra Telecommunications Investment Private. The Indian government’s new policy on foreign direct investment allows up to 74% overseas ownership for companies doing business in the country.

India, AT&T