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October 29, 2004

Joint Venture to Bring Broadband to 16M in Argentina

WebSky Inc. announced that it is forming a joint venture with a local telecommunications company to develop a wireless broadband internet system for Buenos Aires. This is a major product for Websky considering the service area to be covered by the agreement has a population of over 16 million.

A report issued by the United Nations in September stated that there were 110,000 broadband subcribers in all of Argentina at the end of 2003, though most were within the service area covered by the agreement. According to local observers this figure had increased to 155,000 in July. Yet despite this increase, only 10% of all internet subscribers use broadband.

WebSky Inc. is a San Fracisco based company that controls licensed radio frequencies in seven U.S. cities. In addition to the joint venture in Buenos Aires, Websky has entered preliminary joint venture agreements with companies in India, Thailand, and Indonesia.

This information was taken from Business Wire.

Posted by Quentin Johnson at 01:08 PM in Alliances | Permalink

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