Bennett & Coleman Company Ltd (BCCL) continues its investment spree: the Times of India reports that BCCL has acquired 5 percent stake in broadband Internet Service Provider YOU Telecom. The amount and the nature of investment remains undisclosed. Says P.R.Srinivasan, director of Citigroup Venture Capital International: “YOU Telecom is in process of building YOU brand — and BCCL can add value to the company’s branding efforts.”
I wonder if part of the stake has been sold in exchange for advertising inventory from BCCLs media properties like the Times of India or the Economic Times…
YOU Telecom, formerly Iqara Telecom India, offers broadband access in 11 cities in India. Last August, BG India had sold YOU Telecom to Citigroup Venture Capital International.