The government expects to bring a "liberal" merger & acquisitions policy shortly which will enable much needed consolidation in the telecom industry and encourage greater investments by those keen to grow in the sector, telcom minister Kapil Sibal told ET.
"The merger and acquisition policy will be announced very soon, the last legs of policy framework are being finalised and once that is done you will get to know what they will be," the report quoted Sibal as saying.
He added, "We will take a decision as soon as possible. The decision will go to the Empowered Group of Ministers that will then take a call, which will be communicated to the Cabinet".
On October 22, ET had reported that the government is planning far-reaching changes to rules on mergers and acquisitions in the fragmented telecom industry which could pave the way for big-ticket deals.
Read the complete report here