Following the liberalization of the telecommunications services industry in India in the early 1990s, Bharti Tele-Ventures has grown from a small business telephone equipment importer and manufacturer, to become India's largest private sector telecom services group in terms of number of customers. Attracting more than $ 1.2 billion in foreign equity investment, more than any other Indian firm Telecom, by 2001, Bharti achieved a leading position in the domestic market in the service provider. By 2003, however, the nature of the game changed. The wave of mergers and acquisitions in the field decreased the most successful and financed rivals. At the same time, the telecommunications regulatory changes, even in the new, lower-cost competitors have significantly changed the rules of the game. Suddenly, in addition to the state-owned BSNL and majestic Tata Group, India's oldest business house, Bharti was up against Reliance, the largest and most profitable new generation of business groups. Bharti management and equity partners in Mittal and his partners at SingTel and Warburg Pincus to determine what to do next. "Hide
by Tarun Khanna, Krishna G. Palepu, Ingrid Vargas Source: Harvard Business School 26 pages. Publication Date: September 17, 2003. Prod. #: 704426-PDF-ENG
Related Case Solutions & Analyses:
BHP Billiton and Mozal (B)
Politics Institutions and Project Finance: The Dabhol Power Project
Ujjivan: Microfinance Institution at a Crossroads (A)
Gap Inc.
Agnico Eagle Mines Limited
Millennium Pharmaceuticals Inc. (A)
Discovery Limited
Valuation of EatOnline.Asia
Lind Equipment
Has LIBOR Lost Its Stature in Derivatives Markets?
