Telecom industry is moving towards a monopoly: Anil Ambani
Reliance Communications Chairman Anil Ambani has said that India's telecom industry has been "creatively destroyed" to an oligopoly, and is moving towards a duopoly or even a monopoly. He added that the financial troubles of operators resulted in over 20 lakh job losses. Ambani further said Reliance Communications will be completely exiting the telecom business to concentrate on real estate.