Telecom’s tangled tale

The Indian telecom story appears to have lost credibility with both banks and equity investors. A Mint report on Friday said Indian banks plan to act with extreme caution while giving money for the forthcoming spectrum auction, with the chairman of one state-run bank saying his bank doesn’t have the appetite to lend to the sector. On the same day, Bharti Airtel shares traded close to a five-year low, showing equity investors are losing patience with the Indian telecom story too.

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