Mobile Telecommunications (Mobile Tele), Sunfair Electric Wire & Cable (HK) Company (Sunfair) and SW Venture Capital Fund Management (SW Venture) have signed a Memorandum of Understanding (MoU) to form a joint venture company to be known as MTL Electric Wire and Cable.
Mobile Tele will hold 51% stake in MTL Electric Wire and Cable, pursuant to which MTL Electric Wire and Cable will be a subsidiary of Mobile Telecommunications.
Mobile Tele will provide the infrastructure at its Nasik Factory for the purpose of its joint venture operations while Sunfair (HK) will provide the Machineries and Technical know-how. SW Ventures will infuse the required working capital.
