RCom open to acquisitions in India to strengthen presence

RCom has said that it was open to all opportunities in the domestic market to grow its presence and would do so at the right opportunity

Indian billionaire Anil Ambani-led Reliance Communications Ltd (RCom) on Tuesday said that it was open to acquisitions in India as a part of its strategy to grow its presence in the domestic market and would do so at the right opportunity.

"We are open to all opportunities. We are not averse to acquisitions in the domestic market. Let the right opportunity come," RCom's president, Mahesh Prasad, told PTI in Mumbai.

The company said that it has crossed the 100-million mark in wireless customers and would explore both organic and inorganic opportunities to strengthen its foothold in the domestic market.

RCom expects to add another 100 million customers within the next 1,000 days, he said. The company, however, did not have any immediate plans to expand operations in overseas markets and it would prefer more to focus on consolidating its position in the domestic market, Mr Prasad said.

"The Indian market is very vast and dynamic. We have a huge opportunity here. As of now, we are not thinking much about overseas plans. But we are not averse to any opportunities either," Mr Prasad said.

While commenting on the prevailing tariff war, Mr Prasad said that it may intensify further.

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