TRAI’s blueprint also includes changes to the country’s M&A regulations. The regulator’s proposition that operators can merge so long as they don’t end up with more than 30% of total users in a single circle will facilitate Etisalat buying into RCom.
But the problem for Etisalat is that in buying into Reliance that it will always very much have to play second fiddle to Anil Ambani in terms of exercising control over the company.
Having said all that, is India worth pouring big bucks into?
Yes, it’s worth a shot.
There is no other prospect for serious investments to be made in Asia’s other mega market of China.
Indonesia is also enticing but with 200 million people and the country’s Big Three operators already entertaining foreign investors, but the market is just doesn’t have India’s same mega status.
Despite its many flaws, India remains probably the most attractive market for would-be telco investors.