Government Mulls Bringing Down FDI In Satellite Radio To 49%

The Economic Times: This is not great news for satellite radio business in India – especially WorldSpace which is the only player at the moment. The government is mulling bringing down the foreign direct investment in satellite radio sector from 100 per cent to 49 per cent. This means WorldSpace will have to sell 51 per cent of the company to an Indian partner. The Telecom Regulatory Authority of India had earlier recommended retaining 100% FDI in the sector. However, the government does not believe so.
This is bad news for WorldSpace since India is the biggest market for WorldSpace and accounts for close to 75 per cent of its global subscriber base. WorldSpace currently uplinks from Singapore.

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