The answer to the question "Are we going to see M&A in India telecom?"
Majority seem to say "Yes"
A few companies/operators who hold the 2G license were not able to get 3G licenses. It seems that it will be the end of road for them. If not this they will have to get into sharing agreements with operators owning 3G licenses.
In addition, many operators are finding it very difficult to operate in this highly competitive environment. Currently, there are about 15+ operators in the telecom space. Pricing is very competitive leading to miniscule profits.
The operators in the lower segment seem to be most likely to the first ones acquired or exiting the market.
I will write more on this in my next few posts.