Key Takeaways
- • Jio Platforms, controlled by Reliance Industries, has held talks with Comcast and Charter Communications about licensing its unlicensed-band wireless broadband technology in exchange for potential equity stakes, according to two people familiar with the matter cited by Reuters.
- • Talks with South Africa's MTN Group broke down after the two sides could not agree on valuation and certain licensing issues; no timetable exists for a deal with any party.
- • Jio, which listed in Mumbai last week after a record $3.2 billion IPO, is targeting 10 to 15 global partners for its unlicensed band radio (UBR) platform, which Reliance calls a "global first."
- • A deal with Comcast or Charter would give Jio a US foothold as cable operators lose home broadband customers to fixed wireless and fiber.
- • Jio's international strategy centers on selling its technology to foreign operators rather than building networks abroad, with Akash Ambani stating the company will be "very, very selective" about markets.
Summary
Jio Platforms, the telecom unit controlled by Reliance Industries and led by Mukesh Ambani, has held talks with several companies, including Comcast and Charter Communications, about licensing its wireless broadband technology in exchange for potential stakes in those businesses, according to two people familiar with the matter cited by Reuters. The people said there is no timetable for reaching a deal with any of the parties Jio has approached. Jio did not respond to Reuters queries, and spokespeople for Comcast and Charter declined to comment.
Jio also held discussions with South Africa's MTN Group, but those talks collapsed because the parties could not agree on valuation and certain licensing issues, one of the people said. The financial terms of any prospective partnership were not disclosed. MTN said it does not comment on market speculation.
The technology runs on free, unlicensed Wi-Fi frequencies and uses transmitters on nearby towers or rooftops to deliver high-speed internet to receivers on buildings, without cable connections to homes. Reliance describes it as a "global first," and Jio said last week it is targeting 10 to 15 global partners. Jio listed in Mumbai last week following a record-breaking $3.2 billion IPO. The company serves more than 500 million subscribers, has nearly 15 million wired broadband users, and says its UBR-powered users exceed 6.5 million. International expansion is co-led by Dan Bailey, former chairman of Deutsche Bank's technology, media and telecom practice, and long-serving executive Mathew Oommen.
In the US, home broadband is contested between telecom carriers pushing fiber and fixed wireless and cable operators. Comcast co-CEO Mike Cavanagh said last month that fixed wireless "remains aggressive and continues to take share." S&P Global Market Intelligence said cable held 62% of US residential broadband connections at the end of 2024. Comcast had about 28.3 million residential broadband customers at the end of September, and Charter had about 29.4 million internet customers in June, though both have been losing subscribers. Neil Shah of Counterpoint Research said UBR could be attractive to Comcast and Charter because it can deliver cellular-quality broadband over spectrum they do not have to buy.
In an analyst call, Managing Director Akash Ambani said Jio wants to take UBR to developed and developing markets, while noting that the US market is attractive because 3% of customers there consume 65% of 5G fixed wireless capacity. He said the company wants to be "a technology-led business" abroad.
Jio also held discussions with South Africa's MTN Group, but those talks collapsed because the parties could not agree on valuation and certain licensing issues, one of the people said. The financial terms of any prospective partnership were not disclosed. MTN said it does not comment on market speculation.
The technology runs on free, unlicensed Wi-Fi frequencies and uses transmitters on nearby towers or rooftops to deliver high-speed internet to receivers on buildings, without cable connections to homes. Reliance describes it as a "global first," and Jio said last week it is targeting 10 to 15 global partners. Jio listed in Mumbai last week following a record-breaking $3.2 billion IPO. The company serves more than 500 million subscribers, has nearly 15 million wired broadband users, and says its UBR-powered users exceed 6.5 million. International expansion is co-led by Dan Bailey, former chairman of Deutsche Bank's technology, media and telecom practice, and long-serving executive Mathew Oommen.
In the US, home broadband is contested between telecom carriers pushing fiber and fixed wireless and cable operators. Comcast co-CEO Mike Cavanagh said last month that fixed wireless "remains aggressive and continues to take share." S&P Global Market Intelligence said cable held 62% of US residential broadband connections at the end of 2024. Comcast had about 28.3 million residential broadband customers at the end of September, and Charter had about 29.4 million internet customers in June, though both have been losing subscribers. Neil Shah of Counterpoint Research said UBR could be attractive to Comcast and Charter because it can deliver cellular-quality broadband over spectrum they do not have to buy.
In an analyst call, Managing Director Akash Ambani said Jio wants to take UBR to developed and developing markets, while noting that the US market is attractive because 3% of customers there consume 65% of 5G fixed wireless capacity. He said the company wants to be "a technology-led business" abroad.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.