India Telecommunications Q4 2018
Consolidation continues to be the key theme in the Indian telecoms market as the market continues to work its way to anew normal of three operators. Incumbents are seeking to fund their investments into more transmission infrastructure by divestingtheir assets and issuing debt; Vodafone India completed its sale of its tower portfolio to American Tower, while Bharti Airtel sold off astake in its telemedia division. Competitive pressures should ease in the coming quarters as Reliance Jio slows its aggressivesubscriber acquisition pricing, suggesting that the market will move towards a service-differentiated focus, concentrating onexpanding 3G/4G networks to increase subscriber value.
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