Reliance Communication expansion may move the stock

Reliance Communications will invest Rs 800 crore to roll out a telecom network - fixed and mobile - in Uganda, a country in Eastern Africa. The company has bagged a licence to be the African nation’s sixth telecom operator. Once the network is in place, RCOM in Uganda, will compete against MTN, Uganda Telecom, Hits Telecom, Celtel and Warid Telecom. The company plans to launch services in Uganda by Q3 in 2008. Shares of Reliance Communications may move up on expansion plans.