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Technology Stocks : Satyam Infoway Ltd-(Nasdaq:SIFY) -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (1020)	3/3/2000 9:19:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 1471

OT VSNL to dial into indiainfo.com vsnl.net.in Baburajan K & Kavitha Rajasekhar MARCH 3: Videsh Sanchar Nigam Ltd (VSNL) is likely to pick up a marginal equity stake in Indiainfo.com. Although the proposed investment of the company in indiainfo.com is not available, the total equity stake will not be more than 10 per cent. An official announcement to this effect is expected next week after VSNL CMD Shailesh Kumar Gupta's return from the US. VSNL, according to officials, has also initiated parleys with other dot.com companies in India and abroad to take up stakes. At present, Indiainfo, which is planning an overseas float shortly, operates three vertical portals - careerindia.com , evesindia.com , thatsindia.com under the indiainfo.com mother portal. Two new channels for Indiainfo.com and one vertical sub-portal are also in the pipeline. Indiainfo.com also has a 'US shop' that enables transactions and delivery across US and Canada. Countries in Europe, the Middle East and Far East will also be covered under the e-commerce thrust shortly. When contacted, Indiainfo officials said the company will be able to divulge details only after Monday. VSNL's official spokesman said the company was in talks with leading dot.com firms including Indiainfo as part of its expansion plans in the Internet sector. Currently, about 10 per cent of VSNL's total revenues comes from ISP and other related services. Sources said Morgan Stanley Dean Witter is acquiring about seven per cent stake in Indiainfo.com for Rs 50 crore. The Internet services and portal firm has been valued at Rs 706 crore. The funds thus raised will go towards marketing and development costs. The company will acquire at least eight companies in the areas of Internet and web related services in India andthe US. To part fund the projects, Indiainfo was also looking at a Nasdaq listing shortly. -Indian Express Newspapers (Bombay) Ltd.