DLF to foray into Telecom business

Real Estate Major DLF is planning to enter the Telecom sector with Pan India License and is in talks with Global wireless players like AT&T and Singtel for tie ups in telecom venture.

Sources believe that the initial investment for DLF Telecom venture is going to be around Rs 1,400 -1,500 crore to acquire telecome licenses. Company will not dilute any equity in DLF to raise capital for the DLF Telecom and the company likes to be a finacial investor in the Joint Venture and would not take the Management of the new company.

Based on the news the stocks is today up and is quoting at Rs 757 up 2.08% and has touched an intraday high of Rs 765.