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RCOM poised to exit Indian telecoms, squeezed by former stablemate

As one Reliance rises, the other falls. Reliance Communications (RCOM) is set to exit the Indian mobile market after 15 years, while its former sister firm, Reliance Industries (RIL), is growing rapidly after less than two years of commercial services. RIL’s mobile arm, Reliance Jio, is partly responsible for the wave of consolidation which has hit Indian MNOs including RCOM, as operators with already wafer-thin margins, and high spectrum and network upgrade bills, were hit by price wars unleashed by the disruptive new entrant. Among the acquisitions that have ensued as the major MNOs huddled together for warmth, the merger of Idea Cellular and Vodafone, which will create a new market leader, is in the final stages of the approval…

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