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M&A rules to come July-end, says Sibal

HT Correspondent, Hindustan Times  New Delhi, July 10, 2013
First Published: 21:41 IST(10/7/2013) | Last Updated: 21:43 IST(10/7/2013)

The much-awaited merger and acquisition (M&A) guidelines in the telecom sector is likely to be announced by July end, communications minister Kapil Sibal said on Wednesday.


“I am sure that before July 31 the policy will be in place — the guidelines for mergers and acquisitions,” said Sibal.

At present, there are up to 10 players in a service area. This has resulted in hyper competition and has had negative impact on the financials of operators. Though some operators want to exit, uncertainty in the absence of new M&A guidelines is proving to be a hindrance.

The Telecom Regulatory Authority of India has been asked to give its views on the new reserve price for spectrum auction within 90 days, he added.

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