Pacnet to apply for ILD, NLD licence; ups stake in Indian JV

NEW DELHI: Telecom service provider Pacnet today said it has increased its stake in its joint venture with FutureWorld India Pvt Ltd to 74 per cent and will shortly apply for international long-distance (ILD) and national long-distance (NLD) licence.

"As part of our strategy to aggressively grow our operations in India, we have raised our stake in our India joint venture Pacific Internet India (PII) from 55 per cent to 74 per cent," Pacnet CEO Bill Barney said.

Pacnet had recently received FIPB approval to increase its shareholding in the joint venture and to apply for international long-distance (ILD) and national long-distance licence.

Upon approval, Pacnet would offer network services including international private line, IP/VPN, direct internet access and managed services.

The company currently offers internet services in six Indian cities including Banagalore, Chennai, Mumbai, Pune, Gurgaon and Hyderabad.