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Telecom giants – Airtel and V-I to Divest Stake in Wi-Fi Joint Venture ‘FireFly’ to a UK-Based Digital Infrastructure Accelerator

A big news in the telecom sector as we see the UK based DIA or Digital Infrastcuture Accelerator is set to buy the complete 100 percent stake i n the A-I WiFi joint venture called FireFly Networks. The company is putting its Middle East based funds for this deal. Once the company acquires the new venture, they are more likely to put 100 M USD in the comint two years only to help and improve the current Wi-Fi infrastructure company, which is aggressively expanding in the country. 

This business deal is between the top telecom carriers from India including Bharti Airtel and V-I or Vodaphone IDea, which is expected to completely leave the venture, which commences way back in 2014 as it stayed as the clients of Firefly. The two telecom company from India will have contracts with the UK based group FireFly that is responsible in deploying the WiFi infrastructure for data offloading in the areas wherein there is a huge demand of high and at the same time cell tower capacity that tend to remain low along with many more indoor based public domains.

However, the exact deal amount is yet to be disclosed as the joint venture was earlier in talks with the American based networking company called Cisco, however, they failed to work out the deal. They then started their discussion with the group called DIA. Earlier the latter has networked with the Macquarie Capital for the acquisition, however, they later chose the MEF or the Middle Eastern Fund for the same to go with the deal.

Ziya Khan

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