India to revisit M&A guidelines, if needed: Ravi Shankar Prasad

By November 6th, 2014 AT 12:12 PM

mobile-tower-indiaThe Indian IT & Communications Minister Ravi Shankar Prasad said that the government of India will revisit the merger and acquisition guidelines for the telecom sector, if need arises at the India Economic Summit in New Delhi.

“I have already constituted a committee headed by Telecom Secretary to revisit guidelines…I have instructed the Secretary to look into issues of stakeholders and if there is a need to revisit merger and acquisition guidelines, do that,” said Prasad at event, has organized by World Economic Forum.

The committee, headed by Telecom Secretary Rakesh Garg, will also look into issues concerning the telecom sector, like the ease of doing business. The committee’s first meeting took place today wherein industry associations raised their concerns. Telecom operators have long been demanding changes in the M&A rules, terming them difficult.

In early of this year, Vodafone said that we have interested in acquiring assets of other telecom companies in India, including spectrum and fibre, to get pan- India footprint for data services.

In addition, TRAI Chairman had said that the industry is bleeding. There are 12 operators here. Globally, each country has three to four telecom service providers. Some places it is just two. Despite notifying, no consolidation has happened.

3
Leave a Reply

avatar
Photo and Image Files
 
 
 
3 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
3 Comment authors
ParagKrishEsmail Recent comment authors
newest oldest most voted
Parag
Parag

Bpl mobile had best plans. AIRTEL was to take over. Mr minister I wish your phone be cut by 25 nov 14 and u forced to pay two to three times ur plan usage ….

Krish
Krish

So can we expect some m&a happening soon?

Recent Posts

Google Stadia Game Streaming Platform Introduced, Will Launch Later in 2019

Google launched Stadia, the company’s own gaming streaming platform at the Game Developers Conference (GDC) which was held in San...

Apple Refreshes iMac Lineup in India With Two New Devices, Prices Start at Rs 1,19,900

Apple on Tuesday updated its iMac line-up with two new devices after a gap of nearly two years that come...

Poco F1 Gets Game Turbo Mode Along With Rs 2,000 Temporary Discount on 128GB Storage Variant

Xiaomi sub-brand Poco launched its first smartphone aka Poco F1 last year. The Poco F1 has received a massive response...