India Too Rich for Some European Telcos

Though the rise of the Indian telecom sector has led to many acquisitions, smaller, cash-poor telcos may be priced out of the market

Yesterday, France Telecom's CEO commented on the price of India's telecoms companies. He stated that while France Telecom still had the option to enter India, its choice of acquisition targets was currently restricted to smaller and cheaper companies. Simultaneously, we learned that Spice (a regional mobile operator providing services in the North East of India) had raised $128 million through an IPO that was significantly oversubscribed, even though shares were priced at the top-end of the range offered.

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