Department of Telecom near release of policy guidelines for industry mergers and acquisitions

By Marc Castro

Sep 20, 2013 11:12 AM EDT

According to India's Telecommunications Minister Kapil Sibal, in a message released today, the much awaited merger and acquisition guidelines for telecoms firms is projected to take effect by October 15. 

During a discussion with the Indian Women's Press Corps, Sibal said, "M&A fact I wanted them to be in place by 15th of September but could not be done. I want to commit that these must be done by October 15."

Many telecommunications firms and operators have been awaiting the final guidelines for mergers and acquisitions in their industry. As part of the program, the Department of Telecom has plans to meet with companies in the industry prior to the release of the final guidelines.

Another project that the mInistry is working with is the formation of a policy framework for the Optical fiber network. This project would connect 2.5 lakh village panchayats in the countryside. Sibal said, "(optical fiber network) is to move the fiber optics policy framework as quickly as poosible so that we can 2.5 lakh villages by 2014 and also connect 600 universities and 3,500 colleges with dedicated national knowledge network. That process is on but I want that completed by 2014."

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