M& A policy in telecom gets nod [Mail Today (India)]
(Mail Today (India) Via Acquire Media NewsEdge) THE empowered group of ministers ( EGoM) on telecom, headed by Union finance minister P. Chidambaram, on Monday cleared the merger and acquisition ( M& A) policy for the telecom sector raising the market dominance criterion to 50 per cent of the market share in terms of subscriber base.
The EGoM also cleared the sale of 403 MHz of spectrum in the 1,800 MHz band, which is valued at about ` 36,000 crore, as per the Telecom Commission's recommended reserve price.
The new M& A norms will be send to the Cabinet for approval. The EGoM also approved that telcos must pay the market price beyond 4.4 MHz of spectrum after merger on its total holding. It also maintained a lock- in period of three years before telecom companies can sell spectrum after an M & A deal.
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