Yahoo! India to acquire a company in India to offer Internet telephony service
Yahoo! India is all set to offer Internet telephony and communication services in India through 100 per cent equity acquisition of a company. It has derived clearance of FIPB and the Ministry of Finance for the same.
When queried, George Zacharias, MD, Yahoo! India confirmed the information but refused to name the company to be acquired. “We will be making a formal announcement by the year end,” he said.
Internet telephony service was allowed in India on April 1, 2002. At present, the government allows the ISP license holders or unified access service licensees to offer Internet telephony service within their service area. Any Indian company with a maximum foreign equity of 74 per cent is eligible for grant of licence. 100 per cent foreign equity is also allowed, in which case the ISP service provider is not allowed to set up an international gateway.
The Department of Telecommunications (DoT) website carries the full list of ISPs having license to provide Internet telephony service in India.