Jio Platforms has held discussions with Comcast, Charter Communications and other companies about licensing its wireless broadband technology in exchange for potential equity stakes, according to two people familiar with the talks. No timetable has been set for an agreement with any of the parties, they said.
The company also held talks with South Africa’s MTN Group, but the discussions broke down after the sides could not agree on valuation and certain licensing issues. One source said MTN was unable to secure an investment from Jio at a valuation it considered satisfactory. The financial terms of any potential partnership were not immediately clear.
Jio, controlled by Mukesh Ambani’s Reliance Industries, did not respond to Reuters’ questions. Spokespeople for Comcast and Charter declined to comment, while MTN said it does not comment on market speculation.
The discussions follow Jio’s listing in Mumbai last week after a $3.2 billion initial public offering. The company has signaled plans to expand internationally with its broadband platform, which it describes as a “global first,” and said last week it was targeting 10 to 15 partners worldwide.
The system uses unlicensed radio frequencies and does not require cable connections to homes. Transmitters on nearby towers or rooftops send high-speed internet over Wi-Fi frequencies to receivers installed on buildings. Jio says this approach can make home internet delivery cheaper than traditional cable networks or mobile-based services.
Sources: Investing.com News.