Tata Tele likely to join hands with Rcom-Aircel and MTS, says report
Since Jio's entry in September last year, the telecom operators are finding difficult to maintain their market share and churn profits.
Tata Group's telecom arm Tata Teleservices is in early talks with the merged Reliance Communication- Aircel and MTS to explore a possible acquisition, a report claimed.
If the deal goes through, this would create third biggest telecom operator after Vodafone-Idea combined and Bharti Airtel, which will give enough competition to new entrant Reliance Jio, The Economic Times reported on Monday.
Presently, Tata Tele has 53 million users and is ranked ninth out of 12 telcos.
Jio's chairman Mukesh Ambani's younger brother Anil Ambani, who is the chairman of Reliance Communication has approached the newly appointed Tata Sons head N Chandrasekaran to explore the opportunities, the report said.
Since Jio's entry in September last year, the telecom operators are finding difficult to maintain their market share and churn profits. Thus, telecom companies are left with only one option which is joining hands with other telecos.
As per the report, Tata Tele-RCom-Aircel-MTS combined revenue market share will be over 18% as against 31% for Airtel and 42% for Vodafone-Idea Cellular combined.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
Retirement Planning: In how many years your Rs 25K monthly SIP investment will grow to Rs 8.8 cr | See calculations
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
SBI 5-Year FD vs MIS: Which can offer higher returns on a Rs 2,00,000 investment over 5 years? See calculations
08:51 AM IST