Indian billionaire Mukesh Ambani’s Jio Platforms has held talks with several companies including Comcast and Charter Communications  about licensing its wireless broadband technology in exchange for potential stakes in the businesses, two people familiar with the matter said, according to Reuters.

Jio also held discussions with South Africa’s MTN ‌Group, but the talks broke down because the two sides were unable to agree on valuation and certain licensing issues, the people said, the Reuters report, filed from London and New Delhi, stated.

The people said there was no timetable for reaching a deal with any of the parties that Jio has spoken to.

Jio, which listed in Mumbai last week after a record-breaking $3.2 billion IPO, did not respond to Reuters queries. Spokespeople for Comcast and Charter declined to comment.

Controlled by Ambani’s Reliance Industries , Jio has for months signalled plans to expand internationally with its proprietary broadband technology, which Reliance calls a “global first”.

The system runs on free, unlicensed Wi-Fi frequencies, making it cheaper to deliver internet to homes than traditional cable networks or mobile-based services.

A deal with Comcast or Charter ⁠would give Jio a foothold in the United States, where cable companies are losing home broadband customers to fixed wireless and fiber.

Jio said last week it was targeting 10 to 15 partners globally for its technology platform that works on so-called unlicensed band radio (UBR).

It works without cable connections to homes, using transmitters mounted on nearby towers or rooftops to beam high-speed internet over Wi-Fi frequencies to receivers installed on buildings.

MTN could not persuade Jio to invest at a satisfactory valuation, said one of the people. The financial details of the potential partnership were not immediately clear.

MTN said it does not comment on market speculation.

In the United States, home broadband has become a key battleground between telecom carriers and cable companies, as carriers push fiber and fixed wireless services to win customers from cable.

Last month, Comcast co-CEO Mike Cavanagh said “fixed wireless remains aggressive and continues to take share,” on the company’s earnings call. He added that satellite providers could eventually win broadband customers.

Still, cable held 62 percent of US residential broadband connections at the end of 2024, and that dominance is likely to continue for ‌the foreseeable ⁠future, S&P Global Market Intelligence said last year.