While they make news about the Corus deal, they are failing back home in the telecom sector. They are clearly being identifed as also rans.
Tata’s acquired VSNL assuming that it’s monopoly over the international outgoing calls would remain intact. Unfortunately for them, BJP spoiled their party and allowed in free competition. Tata’s had fought in the court on the same issue and despite impressive line up of lawyers, they failed miserably. They acquired Dishnet and hoped to make a splash in Broadband- they failed in there. They got a fancy highly paid idiot as their CEO and failed in again in the mobile space. As and when it sucks in their revenues big time, they are hurting themselves all over again by trying to get in WiMax space without any clue about the adoption and any standards being finalised. They are bound to fail all over again.
Tata’s stock has been hammered in the stock market over the Corus deal. Evidently, the stock market realises what the yellow page journalists (often paid to chime in “yes sir”!) haven’t seen. Tata’s have inherited the worst of the Brit labour union who would shame the CPI’s of any hue to shame for their rowdy and militant behaviour. While the Corus deal is out of scope for discussion, in my opinion, it is the gravest stupidty possible. If I am not mistaken, Mittal wasn’t at the forefront of acquiring the deal.
If Tata’s really want to make decent profits, they ought to get the highly paid execs replaced with fresh blood and thought. VSNL remains a dead corpse and they can’t even sell it for what all it’s worth it. Instead of making the acquistions of all sorts, they ought to set their own house in order than crow about themselves in the media.
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