 "With the entry of Jio the competition has been intensified and incumbent operators have seen a slide in profits as well as revenues.")
Reliance Communications (RCom) has sought relaxation in cross-holding norms so that companies can sell equity to existing telecom operators.
Under the current unified licencing (UL) regime introduced in 2013, telecom service providers are barred from holding either direct or indirect stake in other incumbents providing services in the same area.
The new rules were put in place to promote healthy competition and end the possibility of cartels.
Before the UL regime, telcos were allowed to hold up to 10 per cent stake in other service providers. Due to the change in cross-holding norms, Vodafone had to sell its 4.2 per cent stake in
