Reliance Communications has said it is open to new acquisitions and will explore consolidation opportunities in the telecom market, which is expected to see hectic M&A activity.
The government is expected to come out with detailed M&A norms in September. "Product life-cycle and upgrade-cycle has been reduced drastically since several firms are coming out with new types of products and services within a short span of time," RCom said in its annual report.
"As a result, hectic merger and acquisition (M&A) activities to consolidate the market share would be the new buzz in the market place. We are open to new acquisitions and opportunities to consolidate," the company added.
RCom is the only pan-India telecom company with complete Indian ownership. It had favoured the government's move to allow 100 per cent Foreign Direct Investment in the sector.
It said consolidation in the sector has started taking place, following the cancellation of 122 telecom licences last year by the Supreme Court in the 2G spectrum allocation case.
"In quite a few circles, the numbers of operators has reduced from the earlier 10-12 down to 8-9 operators after the exit.