Telenor mulls mergers in India

Norwegian telecoms group Telenor has revealed that it is looking at potential mergers and acquisitions in India, where it currently operates under the Uninor moniker, but is waiting for the government to clarify rules governing takeovers. The Economic Times quotes the head of Telenor’s operations in Asia, Sigve Brekke as saying: ‘There is still a lot of uncertainty. For example, the merger and acquisition policy is out there but the regulations are not. So, there are still things that need to fall in place from a government’s point of view before this sector can be consolidated or before mergers and acquisitions can happen.’ Brekke added that the company was concentrating on building operations at the moment but that its ‘eyes and ears are open’ to potential opportunities. The company is also planning to expand its Indian footprint, having trimmed back its operations to just seven circles last year in the wake of the Supreme Court’s mass cancellation of 2G licences. To that end, Telenor has raised the possibility of buying spectrum ‘when it makes financial sense.’