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Saturday, December 06, 2003

AT&T sells stake in BPL

Looks like AT&T is getting ready to quit the Indian mobile phone market (their last remaining investment is in IDEA cellular), even as a record 1.9 million subscribers were added in November alone. Analysts suggest that Ma Bell has sold its stake (which it acquired at about $150 million) at a considerable discount.

The question is whether Ma Bell's decision had anything to do with the unified licence regime (wireless and fixed-line) announced by the government, a move that was predicted to start of a wave of much-needed consolidation in the Indian mobile phone industry.

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