SAN DIEGO, CA — (Marketwire) — 12/07/11 — US-based VelaTel Global Communications (OTCQB: VELA) (PINKSHEETS: VELA) (VelaTel), a leader in deploying and operating wireless broadband and telecommunication networks worldwide, today announced it has been accepted to membership in Global TD-LTE Initiative (GTI), a prestigious industry trade group whose founding members include China Mobile Communications, Japan mobile operator Softbank Mobile Communications, India mobile operator Bharti Airtel, US Wi-MAX operator Clearwire Communications, and multi-national mobile operator Vodofone Group Services. For a full list of members see GTI website at .
The objectives of GTI include bringing together the leading operators to steer the TD-LTE ecosystem as a major standard in mobile broadband technology, promoting convergence of TD-LTE with FDD-LTE in order to maximize economies of scale, facilitating multilateral cooperation between operators, and expediting the development of terminals and global roaming.
VelaTel-s President, Colin Tay, recently returned from a GTI conference in Hong Kong where VelaTel was accepted to membership in GTI. He observed: “We are honored to be an active participant in GTI. VelaTel-s membership will provide us valuable exposure and collaboration with other industry leaders to steer and keep in front of the evolution of mobile broadband to a single global standard.”
VelaTel acquires spectrum assets through acquisition or joint venture relationships, and provides capital, engineering, architectural and construction services related to the build-out of wireless broadband telecommunications networks, which it then operates by offering services attractive to residential, enterprise and government subscribers. VelaTel currently focuses on emerging markets where internet penetration rate is low relative to the capacity of incumbent operators to provide comparable cutting edge services, and/or where the entry cost to acquire spectrum is low relative to projected subscribers. VelaTel currently has project operations in People-s Republic of China and Peru. Additional target markets include countries in Latin America, the Caribbean, Southeast Asia and Eastern Europe. VelaTel-s administrative headquarters are in San Diego, California. For further information, please visit .
This press release contains forward-looking statements that involve risks and uncertainties. Actual results, events and performances could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company-s actual results, expressed or implied, to differ materially from expected results. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making an investment decision.
Kimberley Brown
Core Insights 360 PR
Public Relations
1-404-314-2900
Tim Matula
VelaTel Global Communications, Inc.
Investor Relations
(Toll Free) 1-877-260-9170
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