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Indian Sale to Raise US$5 Billion ...
(22 Jun 2009, BWCS Staff)The long awaited sale of 3G licences in India could raise as much as 242 billion rupees (US$5 billion) according to the Financial Times. The newspaper quotes the usual "people familiar with the matter" saying the auction may now finally take place in August or September of this year, providing that plans by the government's telecommunications department are approved. The department hopes to issue six national 3G licences, costing 40.4 billion rupees each, the newspaper reported.
Late last month it emerged that Bharti Airtel, the largest mobile operator in India, was again being linked with South Africa's MTN Group in a possible US$23 billion merger. If the deal goes ahead, the new company would be one of the ten largest mobile phone players in the world and would dominate the developing world. Between them the two powerhouses have a combined total of over 200 million customers and joint annual revenues of US$20 billion. However, it seems that an agreement is still some way off and it should not be forgotten that the pair failed to reach a deal last year when a similar move was mooted.
According to press reports in India, MTN has agreed to engage in exclusive talks with Bharti until July 31, with both companies seeing significant benefits in a merger.
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