RCOM open to acquisitions in domestic market

Reliance Communications (RCOM) has revealed that it is open to new acquisitions and will explore opportunities for consolidation in the market, the Economic Times reports. RCOM added that some consolidation has already taken place in the sector, with the Supreme Court’s mass cancellation of 2G licences in February 2012 driving a number of operators out of the market: ‘In quite a few circles, the numbers of operators has reduced from the earlier ten-twelve down to eight-nine … This has resulted in reduced competitive intensity and lessening of downward pressure on tariffs.’