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RCom open to acquisitions in India to strengthen presence

RCom open to acquisitions in India to strengthen presence
PTI
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First Published: Tue, Mar 16 2010. 05 22 PM IST
Updated: Tue, Mar 16 2010. 05 22 PM IST
Mumbai: Anil Ambani-led Reliance Communications on Tuesday said it was open to acquisitions in the country to grow its presence in the domestic market and would do so at the right opportunity.
“We are open to all opportunities. We are not averse to acquisitions in the domestic market. Let the right opportunity come,” Reliance Communications’ president Mahesh Prasad said here.
The company said it has crossed the 100-million mark in wireless customers and would explore both acquisition and expansion opportunities to strengthen its foothold in the domestic market.
RCom expects to add another 100 million customers within the next 1,000 days, he said.
The company, however, did not have any immediate plans to expand operations in overseas markets and it would prefer more to focus on consolidating its position in the domestic market, Prasad said.
“The Indian market is vast and dynamic. We have a huge opportunity here. As of now, we are not thinking much about overseas plans. But we are not averse to any opportunities either,” Prasad said.
While commenting on the prevailing tariff war, Prasad said that it may intensify further.
“A tariff war is there in the industry for the last three to four quarters and it will continue for a few more quarters,” he said.
“There are two-three greenfield operators who are likely to enter the Mumbai market, which may further intensify the tariff war. We are always competitive in all respects and we will continue that,” Prasad said.
He admitted that the tariff war has put a pressure on the margins of the players.
“The price war will always put pressure on profit margins. But we are always conscious not to hurt the interest of the company and stakeholders,” he said.
At the same time, aspects like good network, customer-care service and value-added services were also essential to win customer-confidence, Prasad said.
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First Published: Tue, Mar 16 2010. 05 22 PM IST