Are India’s richest men about to battle over $2 customers?
Adani’s spectrum bid may unsettle Indian telecom to his advantage
It was too quiet to last. A sustained and brutal destruction of capital in India’s telecom industry was only just starting to give way to a period of peace and calm. The three operators who survived out of the dozen on the scene in 2016 must have been grateful for the end to a debilitating price war. Stable market shares and decenter-user revenue would support the next round of investment.