Govt to allow telecom M&A under quick, simple process | india | Hindustan Times
Today in New Delhi, India
Jan 20, 2017-Friday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Govt to allow telecom M&A under quick, simple process

india Updated: Feb 15, 2012 17:02 IST
Reuters
Highlight Story

The UPA government will allow mergers and acquisitions in the telecoms sector that create combined market share of up to 35%, under a quick and simple process, Telecoms Minister Kapil Sibal said.



A new telecoms policy will be announced in April, he added.


The sector regulator has proposed a relaxation of rules for M&A in the telecoms sector in a move to facilitate a long-awaited consolidation in the 15-player market.

The government is overhauling its decade-old telecoms rules after the once-booming sector was hit by a massive scandal over alleged below-price sale of lucrative telecoms licences and radio spectrum.

The Supreme Court earlier this month ordered all 122 zonal telecoms licences given to companies in a scandal-tainted 2008 sale be revoked in four months and asked the regulator to propose rules for grant of radio airwaves through an auction.

<