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Data Access plans Nasdaq debut for US arm
BS Corporate Bureau in Mumbai |
February 06, 2003 13:25 IST
Data Access, the Internet access and international long distance telephony company, is planning to list its US arm, Data Access America Inc, on the Nasdaq.
The company recently received licence from the Federal Communication Commission to become the service operator to directly interconnect between fixed-line services and wireless service providers in North America.
Also, Data Access is in the final stages of offloading 26 per cent equity in its UK arm, a deal that is likely to be completed by next month.
The company will allow its partner to run operation of the UK business, Siddharth Ray, managing director of Data Access said.
"We would like to list the US company on Nasdaq with an equity base of $12 million. We are looking at the Caribbean and Latin American markets for business," Ray added.
Data Access has a full-fledged international telecom operations licence for the UK. "We are expecting around 15 million pound by offloading the 26 per cent stake. The partner would also look at the day-to-day operations of the company," Ray said.
Data Access is expecting revenues of Rs 3,500 crore (Rs 35 billion) in 2003. Of this, Rs 2,500 crore (Rs 25 billion) would come from India and around Rs 1,000 crore (Rs 10 billion) from the international operations, Ray claimed. Data Access is the first ISP licensee in India and operates its own private Internet gateways.
It launched its international long distance service in July 2002 and now is planning to enter into an alliance with Bharti to share infrastructure in NLD services.
Ray pointed out that the company is considering sharing connectivity and switches "and other infrastructure for NLD with Bharti."
BPL unveils prepaid world phone card
BPL Mobile has entered into a strategic alliance with Data Access (India), the international long distance operator, to introduce a pre-paid international calling 'Mots' world phone card in Mumbai.
The ILD rate offered in this pre-paid card is less than those charged by fixed-line operators for overseas calls.
This is second such calling card in the country. MTNL has virtual calling card for STD/ISD and local dialing and has sold about 30 lakh (3 million) cards in Mumbai alone in 2001-02.
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