Key facts
- Jio held talks with Comcast and Charter about licensing its broadband technology for potential stakes, two people familiar said.
- Discussions with MTN Group broke down over valuation and licensing issues, one of the people said.
- Jio said it was targeting 10 to 15 global partners for its unlicensed band radio platform.
- Jio listed in Mumbai after a $3.2 billion IPO the report described as record-breaking.
- Jio did not respond to queries; Comcast and Charter spokespeople declined to comment.
Jio Platforms, controlled by Indian billionaire Mukesh Ambani's Reliance Industries, has held talks with several companies including Comcast and Charter Communications about licensing its wireless broadband technology in exchange for potential stakes in the businesses, two people familiar with the matter said.
The talks are part of Jio's push to expand internationally with a proprietary broadband system that Reliance calls a "global first". The system runs on free, unlicensed Wi-Fi frequencies, which the report said makes it cheaper to deliver internet to homes than traditional cable networks or mobile-based services. It works without cable connections to homes, using transmitters mounted on nearby towers or rooftops to beam high-speed internet over Wi-Fi frequencies to receivers installed on buildings.
Jio also held discussions with South Africa's MTN Group, but the talks broke down because the two sides were unable to agree on valuation and certain licensing issues, the people said. One of the people said MTN could not persuade Jio to invest at a satisfactory valuation. MTN said it does not comment on market speculation.
Jio said last week it was targeting 10 to 15 partners globally for the technology platform, which works on so-called unlicensed band radio. The people said there was no timetable for reaching a deal with any of the parties Jio has spoken to. Financial details of the potential partnerships were not immediately clear.
Jio listed in Mumbai last week after a $3.2 billion IPO, which the report described as record-breaking. Jio did not respond to Reuters queries, and spokespeople for Comcast and Charter declined to comment.