India Telecom
The Government approved spectrum-sharing guidelines as positive for the incumbents. Operators however, would need to find a balance between the costs of sharing (0.5% increase in spectrum usage charges) with the benefits of spectrum sharing (a cost-efficient mechanism to enhance network capacity and quality). Disallowing spectrum leasing is a negativeContinue Reading
The great Indian Telecom M&A is finally unfolding. Before we go into the Indian Telecom M&A, I’d like to elaborate about a great Chairman Hindustan Unilever [then Hindustan Lever Ltd] had in the 1990s – S M Datta. That was precisely the time when my tryst with Equity Markets hadContinue Reading
Reliance Jio Infocomm has acquired spectrum in 800MHz band (in 10 service areas) in the recently concluded spectrum auction in order to solve its 4G conundrum by providing cost-effective coverage on LTE. Though technologically it is feasible to offer LTE services with just 2×1.4MHz spectrum, to offer a meaningful LTEContinue Reading
Indian Government has only one option to Tax its citizens – Indirect Tax at Source, as a pathetic 4% Indians pay Income Tax. The new regime under Narendra Modi has hiked the Service Tax by 200bps to 14% [Swach Bharat Cess still a overhang]. Our channel checks on tariff changesContinue Reading
While tower industry itself represents a type of outsourcing (where telcos outsource the management of passive infrastructure assets to specialist towercos), we believe a second wave of outsourcing is under way within the tower industry. In an industry conference focused on the Telecom Infrastructure space, we observed that an interestingContinue Reading
The Big 3 of Indian Telecom – Airtel, Vodafone and Idea Cellular abide by the tested strategy of maintaining / increasing the 900 MHz portfolio along with increasing 3G/4G FDD footprint. Incumbents A-Vo-Id Group put their strategy as to what their Revenue Model Says – Voice to 3G Mobile DataContinue Reading
I was always of the Opinion that the BJP Government headed by Narendra Modi meant strict Governance & Business. However, the Telecom Spectrum Auction Design appears to be flawed and now I’m beginning to wonder if the Honorable Supreme Court Justice sensed the flaw and potential vested interests and passedContinue Reading
Evey body was caught with a surprise when DoT revealed the earnest money deposits for the 2015 Mega Spectrum Auction as Reliance Jio turned out to be the highest depositor. Mukesh Ambani led Reliance Jio Infocomm already has a) Pan India 4G-BWA Spectrum in 2300 MHz band of 20 MhzContinue Reading
Vodafone India’s 3Q confirms sector’s healthy trends – sustained minutes growth, flat voice rev/min & strong data uptake. Traffic grew 6.5%yoy (5%yoy for Airtel) with flat voice rev/min. Idea, in contrast, had reported stronger mins growth (18% yoy) but with a 6% yoy decline in voice rev/min. Vodafone’s Blended ARPUContinue Reading
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