Jio Looks to Share Its Internet Tech With Big Companies Around the World

An Indian technology company called Jio Platforms is in talks with some of the world's biggest cable companies. Jio wants to share its special wireless internet technology with companies like Comcast and Charter Communications in the United States. In return, Jio would get a piece of ownership in those businesses. Two people who know about the talks told the news agency Reuters about the discussions.

Jio is owned by Indian billionaire Mukesh Ambani through his giant company Reliance Industries. For several months, Jio has been making plans to bring its internet technology to other countries. Reliance calls the technology a 'global first,' meaning they believe no other company has built anything quite like it before.

So how does this technology work? Instead of using underground cables or cell phone towers, Jio's system sends high-speed internet over Wi-Fi radio waves. Special transmitters are placed on nearby rooftops or towers, and they beam the internet signal to small receivers attached to buildings. Because it uses free, unlicensed Wi-Fi frequencies, it costs less to set up than traditional cable or mobile internet services.

Jio said last week that it wants to find between 10 and 15 partners around the world to use its technology platform. Comcast and Charter are two of the largest cable TV and internet providers in the United States. Neither company agreed to comment on the talks when Reuters asked them about it.

Jio also held talks with MTN Group, a large telecommunications company based in South Africa. However, those discussions did not go well. The two sides could not agree on how much the technology was worth or on some of the rules for using it, so the talks fell apart. MTN said it does not comment on rumors or market speculation.

There is no set deadline for Jio to reach a deal with any of the companies it has spoken to. Last week, Jio completed a record-breaking stock market debut in Mumbai, India, raising $3.2 billion in its initial public offering, or IPO. That made it one of the biggest IPOs ever seen in India. When Reuters reached out to Jio for comment, the company did not respond.