 "Telecom M&A norms to be in place after EGoM meet, says Sibal")
New Delhi: The long awaited merger and acquisition (M&A) guidelines for the telecom sector will be announced after the Empowered Group of Ministers decides on the matter at its November 22 meeting.
“For pricing issue we have to go to EGoM. EGoM meeting is fixed on 22nd. So the moment that meeting is over, we will have the M&A policy,” Telecom Minister Kapil Sibal said on sidelines of CII’s Services Conclave 2013.
[caption id=“attachment_1220059” align=“alignright” width=“380”]
Kapil Sibal. AFP[/caption]The M&A guidelines, much-awaited by the industry, were earlier expected to be announced this week.
Telecom Commission has recommended that companies be allowed to acquire another operator in a way that market share of the resultant entity does not exceed 50 per cent.
Apart from various charges associated with M&As, EGoM will also decide on spectrum related issues, as to how much spectrum should be retained by the new entity.
PTI