Spectranet and Excitel deny talks with ACT

NEW DELHI: Internet service providers Spectranet and Excitel Broadband have denied holding exploratory talks with Atria Convergence Technologies ( ACT) Fibernet for prospective sales.

Earlier this week, ACT CEO Bala Malladi told ET that the company was in talks with players like Spectranet and Excitel for a possible acquisition, which would allow the former to expand presence in the country and provide reach in newer markets beyond the south region.

A Spectranet spoksperson said, "We wish to once again state that our company never had any discussions with ACT Fibernet for any business. The mention of our name is detrimental to our brand image."

Vivek Raina, CEO of Excitel Broadband, in a statement, said, "We definitely do not consider selling stakes of our company, having our unprecedented, yet fully self-sustainable growth."

"Even more, the two companies operate quite different business models. While ACT is focused on premium offerings," Raina further added.