New Delhi: Bharti Enterprises and Japanese internet company SoftBank today set up a 50:50 joint-venture firm - Bharti SoftBank Holdings - to work on mobile internet.
Bharti did not disclosed the financial details. "We would not be in a position to share our investment plans at this point," Bharti Enterprise spokesperson said.
Bharti SoftBank Holdings (BSB) will actively participate in the mobile internet ecosystem's growth in India, with an emphasis on three key areas -- social media, gaming and e-commerce, Bharti said in a statement.
"India, which has emerged as the second largest mobile market in the world, stands at the cusp of another revolution mobile internet," said BSB's Head of Strategy and New Product Development Kavin Bharti Mittal.
SoftBank is an internet company that aims to provide a range of services including mobile communications, broadband infrastructure, fixed-lines, internet culture, and others.
"Over the decades, SoftBank has endeavoured to develop new markets for Internet businesses, starting from the US, China and now India. I believe that through the mobile internet, we can change people's lives in India and empower each one of them to contribute to society?s exponential growth," BSB Director Atsushi Taira said.
First Published: Thursday, October 20, 2011, 14:29