BSNL was rumoured to be going in for an IPO. Mr Pradeep Baijal announced this at some “convergence” meet.
Finally, it took the Department of Telecom Secretary to “clarify” that there is no IPO and BSNL isn’t for sale. Well, the left arm of the Govt. doesn’t know what the right arm is doing.
It’s this monumental stupidity that is institutionalised; with fossilised brains, these bureaucrats are the real stumbling blocks to real telecom revolution. Or whatever we can call it as.
Anyway, the subtext of the IPO shouldn’t be missed. Ever since the UPA government has come in power, they have been selling the country piece meal. I wouldn’t comment on the recent Dubya’s visit- it was more than Nuclear deal. We would see the lateral entry of American Telecom firms in the near future. Either, they would buy out the existing telecom firms or “partner” with them. Further, once the long distance Telecommunications is opened up, we would see a flurry of activity. We might be able to get Skype Out like service; but given the current scenario it seems unlikely.
For all those who claim that “Indian Telecom has arrived on the world scene”, here goes up my middle finger, with the thought that your asses would be stuffed up with load of s***. There is nothing more demeaning than allowing the MNC’s to rampage on our soil. I am not clamouring for protectionism but there is a difference between allowing healthy competition and selling the nation to considered interests.
Finally, Mr Pradeep has retired; there was a small write up on him- similar to his “obituary” in office. Of course, Times of India spoke about his tenures in glowing terms. I won’t set the pessimistic tone here but there is a lot Mr Pradeep missed.
As I had pointed out, they have hoisted a retired bureaucrat in his place. Good bye TRAI. You are now gone and your dead corpse would be feasted by Department of Telecom. Tandoori style or raw? It’s left to their tastes.
Finally, I am adding a category on Convergence. I haven’t yet written anything on the same here but in due course of time, this needs some attention. Specially when Broadband can provide an excellent platform for content delivery. Oh yeah, forget about it on 256k lines, but the future is bright.
As usual, I hope.
Update:
There is a lot of confusion about the proposed IPO. Here are the links from Google news which has more details.
This is the imminent sell off the public assets in the near future. Of course, BSNL- MTNL would be combined; it would be a “strategic partnership” between the Government and private telephone companies. Well, whatever “strategic” means.
” There is nothing more demeaning than allowing the MNC’s to rampage on our soil.”
Don’t get this comment…
Foreign investment is trickling in not pouring, it can go up to a mx of 49% foreign owned with 51% indigenoulsly whilst still leaving control within the borders.
I dont see this FDI as bad, on the contrary i think of it as an infusion of fresh blood & ideas. I feel this might actually improve things since they would have to answer to other shareholders.
Companies indian or foreign don’t give a crap about their customers when they are huge, but when the shareholders start whining things happen fast.
” There is nothing more demeaning than allowing the MNC’s to rampage on our soil.”
Don’t get this comment…
Foreign investment is trickling in not pouring, it can go up to a mx of 49% foreign owned with 51% indigenoulsly whilst still leaving control within the borders.
I dont see this FDI as bad, on the contrary i think of it as an infusion of fresh blood & ideas. I feel this might actually improve things since they would have to answer to other shareholders.
Companies indian or foreign don’t give a crap about their customers when they are huge, but when the shareholders start whining things happen fast.
Hmm. We have had this discussion before. Don’t be fooled by what appears on the paper or otherwise.
Prime example remains Hutch. Look at it’s cross holdings. The parent’s holding far exceeds it’s official capacity of 49%. When you have Orascom, that retails in Pakistan, Egypt and Bangadesh picking up stake and hence indirectly in Hutch India, this is a security concern. I know not the details as to how this is made possible- but it hasn’t been listed for IPO as yet and remains a privately held company.
Incidentally, none other than the ex IB chief Mr M.K. Naranyanan sounded the bugle that regulation ought to be brought in.Top notch bureaucrat who has been dealing with Pakistan portfolio earlier on in his career.
I don’t give a damn to whatever FDI is “trickling” in. We are giving away massive concessions in almost every structure. For example, the still controversial boll worm terminator gene from Monsanto. No long term studies have been done but it’s still being allowed to sell it’s seeds from US pressure. The same seed isnt available in US.
I would concur with the commies here but then commies are half right and full wrong.
I d agree about companies not giving a crap to consumers. I d just expend some energies later on the same recurring theme later.
Hmm. We have had this discussion before. Don’t be fooled by what appears on the paper or otherwise.
Prime example remains Hutch. Look at it’s cross holdings. The parent’s holding far exceeds it’s official capacity of 49%. When you have Orascom, that retails in Pakistan, Egypt and Bangadesh picking up stake and hence indirectly in Hutch India, this is a security concern. I know not the details as to how this is made possible- but it hasn’t been listed for IPO as yet and remains a privately held company.
Incidentally, none other than the ex IB chief Mr M.K. Naranyanan sounded the bugle that regulation ought to be brought in.Top notch bureaucrat who has been dealing with Pakistan portfolio earlier on in his career.
I don’t give a damn to whatever FDI is “trickling” in. We are giving away massive concessions in almost every structure. For example, the still controversial boll worm terminator gene from Monsanto. No long term studies have been done but it’s still being allowed to sell it’s seeds from US pressure. The same seed isnt available in US.
I would concur with the commies here but then commies are half right and full wrong.
I d agree about companies not giving a crap to consumers. I d just expend some energies later on the same recurring theme later.
“Prime example remains Hutch. Look at it’s cross holdings.”
Hutch is an indigenous company ?
“Prime example remains Hutch. Look at it’s cross holdings.”
Hutch is an indigenous company ?
No it isn’t. I can’t describe it’s shareholding patterns but definitely is owned by Hutchison Whampoa in Hong Kong, I believe.
Orascom got a stake in parent company.
Look at it by anyway, it doesn’t look good to me at all. What has Hutch given us except the ad with the pug? They were named in TRAI’s black list with massive congestion. Boo Boo. You can’t always blame BSNL for everything.
No it isn’t. I can’t describe it’s shareholding patterns but definitely is owned by Hutchison Whampoa in Hong Kong, I believe.
Orascom got a stake in parent company.
Look at it by anyway, it doesn’t look good to me at all. What has Hutch given us except the ad with the pug? They were named in TRAI’s black list with massive congestion. Boo Boo. You can’t always blame BSNL for everything.
Ahh you are saying that Hutch is piece owned by different players and it’s not doing that great …ergo some degree of foreign ownership does not necesarrily translate into better services.
Well…to agree with it, we would need to see how Hutch did before the sellout to after.
Personally i dont have much opinion about Hutch either, they seem to over subscribe thier phones re
Ahh you are saying that Hutch is piece owned by different players and it’s not doing that great …ergo some degree of foreign ownership does not necesarrily translate into better services.
Well…to agree with it, we would need to see how Hutch did before the sellout to after.
Personally i dont have much opinion about Hutch either, they seem to over subscribe thier phones re
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