NEW DELHI: The long-awaited merger and acquisition guidelines for the telecom sector are likely to be released in a week, a senior government official said today.
“M&A guidelines shall be published in a week. We have received legal opinion today which is being examined,” Telecom Secretary M F Farooqui told reporters here.
The Empowered Group of Ministers (EGoM) has already approved the M&A guidelines but it may need a Cabinet approval if legal opinion finds that the consolidation activity amounts to sale of equity.
As per the guidelines approved by EGoM, market share of a merged entity should not exceed 50 per cent of the subscriber base. Read more