RCOM is learnt to have formed a JV with Sri Lanka-based Electroteks to launch GSM mobile services in the country by the end of 2008. RCOM reportedly owns 74 per cent equity in the JV, the maximum permissible shareholding by a foreign company in the Sri Lankan telecom industry. Reportedly, the JV, Reliance Mobile Lanka, has received the start-up GSM spectrum and the access code from Sri Lankan authorities. The new venture targets to set up a network with a capacity of around 5 million GSM lines. RCOM has invited expressions of interest from global vendors for buying GSM lines in Sri Lanka. The Indian telecom operator is learnt to have decided to invest Rs 12 billion in the JV in next three years to set up a next-generation integrated telecom network.