Indian Telcos: Are We Looking at a Two-Player Market as JIO Keeps the Pressure on Incumbents?

Bharti Infratel Vulnerable to Further Telecom Consolidation. A Two Player Market Would Be Painful.

Bharti Airtel's Resilience Shows as Its Other Businesses (Non-Telco India & Africa) Perform Well.

IDEA Raising Capital Ahead of Vodafone Merger in Face of Fierce Competition from JIO

IDEA's Merger with Vodafone a Major Positive but Overshadowed by Lost Market Share in near Term

Indian Telecoms Data Show Bharti's Performance Gap Widens as JIO's Entry Decimates the Market

Light at the End of the Tunnel for Bharti Airtel. 2Q18 Results Suggest a Recovery Is Underway.

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<p>The Indian telecom market remains under intense pressure from Jio's entry and drive to build market share. Where we had seen early signs that Jio was looking to raise prices and potentially look for an IPO, this has reverted to a series of aggressive price offers. At the same time regulatory headwinds have increased, at least until very recently. One of these was a 57% cut to interconnect (IUC) to just 6 paise/minute. This fed into quarterly numbers with 3Q18 service revenues plunging between…</p>

The Indian telecom market remains under intense pressure from Jio's entry and drive to build market share. Where we had seen early signs that Jio was looking to raise prices and potentially look for an IPO, this has reverted to a series of aggressive price offers. At the same time regulatory headwinds have increased, at least until very recently. One of these was a 57% cut to interconnect (IUC) to just 6 paise/minute. This fed into quarterly numbers with 3Q18 service revenues plunging between…

Tata Teleservices (Maharashtra) (TTLS IN)

Jio's Aggression Continues to Pressure Indian Telcos.

Vodafone Idea

Jio's Aggression Continues to Pressure Indian Telcos.