Govt likely to announce guidelines for telecom mergers and acquisitions

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SME Times News Bureau | 11 Jul, 2013

The government is planning to announce the detailed guidelines on mergers and acquisitions in the telecom sector by this month-end, Telecom Minister Kapil Sibal said in New Delhi on Wednesday.

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

Sibal, who is also the law minister, was speaking on the sidelines of a roundtable on legal system organised by Assocham.

The telecom ministry came out with the broad guidelines in February last year on mergers and acquisitions. But the detailed guideline is still awaited.

At present, there are around 13 mobile phone service providers in the country and it is likely that some of them will look forward to consolidation once the final, detailed guidelines are out.