Virgin preparing to enter India - reports

Virgin mobile is preparing to enter the Indian market in a joint venture with Tata Teleservices, according to reports Wednesday, in the UK’s Times newspaper.

Ratan Tata, Tata’s group chairman, is believed to have had talks with Virgin chief, Richard Branson about the proposals. It is understood the pair have spoken about Virgin becoming an exclusive franchisee of Tata, according to the Times report, which does not name sources.

This is not the first time Virgin has looked to do business in India. As far back as 2004, the company was eyeing India, along with Mexico and South Africa. At the time, Virgin had been in talks with India’s Airtel and MTNL.

According to Wednesday’s report, the pair could be doing business together by April.

The Virgin group would not make a comment this morning but did indicate it would have a prepared comment later today.

More as this story develops.