Intel in talks with India's ITI for joint venture
(Reuters) - Intel (INTC.O), the world's largest chip maker, is planning to participate in bids invited by Indian state-owned telecom equipment maker ITI Ltd (ITEL.BO) to set up joint ventures, the Business Standard reported on Friday.
ITI intends to be a minority partner in the proposed joint ventures with a 26 percent stake according to the bid proposals, the newspaper said.
An Intel spokeswoman said the company did not respond to market speculation or rumors.
The paper said Intel was interested in making the hardware and consumer premise equipment around WiMAX technology, which provides for wireless transmission of data up to 75 megabytes per second.
Though interested parties have been asked to participate before January 29, 2010, the telecoms ministry is holding a pre-bid conference before selecting them, the paper said.
Other global players that have showed interest include Huawei HWT.UL, Alcatel-Lucent (ALUA.PA), Samsung (005930.KS) and Hitachi (6501.T), the paper said.