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Construction : Deals | May 2013 | Source : Construction Update

Telenor looks for merger with Indian companies

Telenor, Norway's telecommunications company, has hinted that that it will look at mergers and acquisitions (M&A) with other mobile phone companies in India. But the company said that it will move in that direction only after India offers more clarity on its M&A rules.

The company said that there is still a lot of uncertainty. For example, the merger and acquisition policy is out there but the regulations are not. So, there are still things that need to fall in place from a government's point of view before this sector can be consolidated or before mergers and acquisitions can happen, Telenor head of Asia operations Sigve Brekke said.

Recent reports had said that Telenor and Tata Teleservices had held initial discussions for a possible merger or equity sale, adding that Telenor had appointed Citibank while Tata Tele had brought in Lazard to evaluate options of possible partnerships.

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