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Wipro to enter home ISP market next year - Views on News from Equitymaster
 
 
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  • Dec 29, 1999

    Wipro to enter home ISP market next year

    Wipro Corporation has decided to enter the competitive home internet services market early next year through a joint venture Wipro Net with the $ 8 billion Dutch Telecom operator, Royal Dutch Telecom.

    At first glance it seems irrrational why Wipro should venture into an extremely competitive business with VSNL/MTNL practically dropping rates every fortnight. The possible answer for this could be the freedom given to internet service providers (ISPs) to use foreign satellites and KU-band for Internet connectivity. This will enable the new ISPs to directly connect through their own gateways.(Till now, all private ISPs could only use the gateways of VSNL and DOT/MTNL for Internet connectivity.)

    Satellite broadband delivery is very efficient and cost effective: a satellite beam can cover very large areas and connection can be provided easily with no need to roll out extensive terrestrial plant and equipment.

    The company also plans an IPO three yearís down the line where the parent could itself divest itís stake and encash its investments. Wipro is being cautious, understandably so. Itís putting a finger into the internet pie without burdening the balance sheet of Wipro itself.

    Market View:
    Wiproís premium valuations are expected to sustain owing to the quality of its software services and the fact that 75% of its stock is held by its promoters.

     

     

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