Japan's JIC plans to sell JSR to Mitsui Chemicals, sources say
The transaction could exceed ¥1.3 trillion, with a decision possible in November, people familiar with the matter said.
Jio explores broadband-for-equity deals with Comcast and Charter
Separate discussions with South Africa’s MTN Group ended over valuation and licensing disagreements, people familiar with the talks said.
Jio Platforms has discussed licensing its wireless broadband technology to companies including Comcast and Charter Communications in return for possible equity holdings, two people with knowledge of the discussions said. There is no timetable for an agreement with any prospective partner, they said.
The Indian company also pursued talks with MTN Group in South Africa, but those negotiations ended without agreement on valuation and some licensing matters, the people said. One person said MTN could not secure a valuation satisfactory to Jio for an investment. Financial terms of the proposed partnership were not immediately clear.
Controlled by Mukesh Ambani’s Reliance Industries, Jio has signaled an ambition to take its proprietary broadband system overseas. The company said it was seeking 10 to 15 partners worldwide for the platform.
The technology uses unlicensed Wi-Fi spectrum rather than cables running into homes. Equipment on towers or rooftops sends high-speed internet to building-mounted receivers. Using free frequencies makes home internet delivery cheaper than traditional cable or mobile-based services.
Jio listed in Mumbai following a $3.2 billion IPO. It did not respond to questions about the discussions, while Comcast and Charter representatives declined to comment. MTN said it does not address market speculation.