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Global Telcos Rush for Indian Telecom Licenses

October 3, 2007

We have received reliable information from insiders that AT&T Bids For India Telecom License With Mahindra Unit – US Telecommunications major AT&T Inc. Sources said it has bid for licenses to provide mobile services in all 22 circles in India.

Bharti Airtel has become the first Indian telecom company to hit a subscriber base of over 50m (about 48m of these would be mobile customers) till the end of September, making it the tenth largest wireless telecom operator in the world. The company will also launch its DTH by the end of March 2008.

Omaxe’s wholly owned unit Satvik Hitech Builders Pvt. Ltd. will apply for a license to provide telecommunications services in 22 circles.

So considering this rush of new applications, Vodafone’s BUY out of HTIL appears to be really cheap and reasonable.

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