RCOM to acquire European Wi-Max operator for $300-400 million

Reliance Communications (RCOM) is close to acquiring a European Wi-Max operator for $300-400 million. According to RCOM reports, the yet-unnamed European firm has licences to provide Wi-Max services in over 20 countries across East Europe, Africa and Latin America. The acquisition will enable RCOM to set up Wi-Max networks in these countries and scale up its existing network by making additional investments. The company is planning to set up Wi-Max networks across 50 countries in the next three years to move into the global telecom market.