New Delhi: Airtel chief Sunil Mittal has said that only two telecom companies can exist in the coming days. He said that this situation could arise due to economic crisis and only two telecom companies will remain in the country. Bharti Airtel chairman said, “Due to economic pressure on the telecom sector, business can be limited between two companies.” If the promoters of the third company cannot raise capital on a large scale, then it will be difficult to remain in the competition. Airtel has also been adversely affected. We have done rights issues and other ways to bring new capital into the company. The third company will have to do something similar. ‘
Even though Sunil Mittal did not directly name any company, his reference was clearly to Vodafone Idea, which is facing a deep economic crisis. Expressing concern over the government AGR dues Sunil Mittal said, “AGR payments are very high and this has increased the burden on the telecom companies. Companies have to pay penalty and interest on a large scale. This huge amount has worked to drain the entire cash of the industry, which could have been spent on 4G and 5G networks. ”The Airtel chief may have overstated the AGR amount, but he said that we will not allow the Supreme Court verdict will accept.
