The Supreme Court Judgment is remarkable as it brought to light the Lobbying and Pimping Corporates do in the High Corridors of Power. Now The Wall Street Journal Quotes
Court’s ruling also effectively adds a new layer of uncertainty to an already unpredictable regulatory environment. New Delhi has become infamous for changing the rules in the middle of the game
Dear Mr. WSJ editor, before taking sides, analyze the situation in which investments were made. Unitech a Realty Firm hired a Corporate Pimp under the disguise of Lobbying and got the controversial licenses approved. Who the F*ck told Telenor to be careless while choosing its JV partner with whom it’ll go to bed ? Were Telenor executives blind that they didn’t understand the way in which Licenses were given out and I am sure I have written on this very blog about the Day Light Cheating by the DoT. It is complete failure of Telenor’s role. Didn’t they know what ethics Real Estate business houses carry in India – hand in glove with Mafia, Cronies, Politicians etc ?
Dear WSJ Editor, your own American Company AT&T was also in the race. But somewhere in the management line they know the difference between ethics and corporate pimping and thus they decided to stay on the sidelines.
I also agree that their were few scapegoats who got slaughtered for no reason of theirs. But this is a welcome move to clean the entire mess within the Department of Telecom and Ministry of Telecommunications in India. Hopefully the Prime Minister will now break his silence and clean the mess.
How 2G Scam verdict By Supreme Court is Good for the Nation
The Honorable SC has restored the faith of common man in seeking justice as the Natural Resources of this Country belong to him. Auction of the Natural Resources will help the Government reduce its fiscal deficit and henceforth show that Auction is the only way to give away Natural Resources.
Foreign Media, Look at What your own Institutional Investors are saying about the Judgment 🙂
Barclays Capital in a Research Note said,
Indian Supreme Court today ordered the cancellation of 122 telecom licenses (across 22 circles) issued post 2007. While this verdict could be disruptive, we believe this could have all the ingredients to resolve two key issues of Indian mobile regulation related to: a) spectrum pricing, and b) exit policy.
Morgan Stanley, the God-Father of Institutional Research and Investments in a Research Note said,
We believe that today’s Supreme Court ruling cancelling the 2G licenses issued from 2008 is a huge positive for the Indian Telco industry for the following reasons: 1) This move will help promote consolidation for the sector, only a few operators are likely to participate in an expected auction, which will lower the number of players in the industry. 2) We think that Idea Cellular, RIL and possibly Uninor would be the most keen to get hold of the incremental 4MHz paired spectrum, thereby limiting competition. 3) We assume that the reserve price in an auction would be the original 2G price of Rs1,680 crore, almost 1/10th the price paid for 3G.
Nomura Securities in its note said,
This is a progressive ruling no doubt, but it is unclear still if these decisions can be appealed. There are many other regulatory decisions pending still around NTP-12 which could see carriers incur additional charges without any incremental benefits necessarily.
It is time to get back some Ethics from your High School Class while you become an editor of WSJ or CEO of companies like Telenor.