In an interview last month, Mr. Mittal said his goal was to build one of the world's "largest and most successful telecom companies".
Shares in Nokia, which still has a successful telecom networks and equipment business, surged by 34 per cent on news of the deal.
"This is the only government on the planet which says things will go well as long as the government stays out of it", says Peter Bakker, boss of TNT, a Dutch logistics firm, which is investing heavily in its Indian operations.Sunil Mittal, boss of Bharti, a successful telecom firm, who is now expanding into retailing through a partnership with Wal-Mart, seems less happy.
With more than 200 million mobile subscribers in 13 markets, Telenor is one of the largest and most successful telecom companies globally.
I had written my business plan during my maternity leave and had found myself a successful telecom entrepreneur as my mentor.
It is no accident that today's most successful telecoms firm is Vodafone, which has steadfastly concentrated on building scale within a single horizontal business layer.
Although the firm runs a successful telecoms business, Infostrada, as well as Omnitel, Italy's second cell-phone operator, Roberto Colaninno, the chief executive, and his team cannot claim credit for this.
Mr O'Konek, formerly an executive with America's AT&T (which has a minority share in the Taiwanese venture) brings world-class technical skills and the experience of successful telecoms start-ups in America and the Czech Republic.
Most recently, news broke that Verizon is reportedly planning a first-round bid for Yahoo's web business, and if the telecoms firm is successful, it would replace the embattled Mayer with AOL's CEO, Tim Armstrong, and Marni Walden, Verizon's executive vice-president.
As a phenomenally successful telecoms tycoon, he argues, he has both the managerial skill to run the country, and wealth enough to resist corruption.There is no challenge Mr Thaksin will not take on: he has pledged to eliminate drugs, poverty and drought, to name but a few.
It's an unusual round because its from existing investor Gordon Shields, the successful telecoms and environmental entrepreneur and investor, and a handful of other angels.
