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Global interest for M&A in Indian telecoms muted: Rothschild

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Global interest for M&A in Indian telecoms muted: Rothschild

India's telecom market is unlikely to attract new global players due to stretched balance sheets of Western companies and tough competition posed by deep-pocketed domestic firms. The experience of past global operators that shut down their operations in India within a decade is also a deterrent. Most global players have already made significant investments in 5G services and increasing network capacities in their own home markets. The dominant players in the Indian telecom market are Reliance Jio, Bharti Airtel, Vodafone Idea, and Bharat Sanchar Nigam Ltd. Government shareholding and high liabilities of Vodafone Idea make an acquisition by a global telco less attractive. However, there may be opportunities for western telcos and consolidation in the data center industry.

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