Finolex buys 51 Lucent stake in joint venture

The fibre cable company will continue to operate as usual under the ownership of Finolex Machines and Finolex Cables, supporting all the company8217;s contracts and agreements.

However, a release issued by the company on Monday does not disclose the amount that Finolex has paid to Lucent. quot;This venture has played an important role in our ability to provide fibre infrastructure throughout the country for the past several years,quot; said Denys Gounot, president of cable systems for Lucent Technologies. quot;We believe the company is well-positioned to remain a leader in India in supply and manufactureof fibre optic under Finolex8217;s stewardship,quot; he added.

quot;In addition, the company is making a foray in providing intelligence super highway for communication across India by establishing high speed broadband long distance network using optic fibre cable,quot; PP Chhabria, Finolex chairman, said. quot;We remain committed to the rapid modernisation of telecommunications throughout Indiaquot;, he said adding the joint venture has provided customers with a more efficient means to purchase fibre optic cables.

quot;Optical fibre cables have enhanced our product range, and made our customers networks covering long distances and dense business areas more effient,quot; Chhabria said.