Transfers of power

In telecom, the failure to transit early to a model in which service providers had to pay competitive prices for spectrum lies at the heart of the recent shakedown

On May 2, Business Standard published a report delineating three markets in which successive waves of consolidation were likely to create two- or three-horse races: telecom, steel and e-commerce. In the first, Bharti, Idea-Vodafone and Reliance Jio account for almost 70 per cent of subscribers; in the second, Tata Steel and JSW could corner a third of the steel market; in the third, Walmart and Amazon are likely to divide the stakes between them, when the former invests in Flipkart.
 
The key and perhaps ironical point about this constriction of competition is that it is taking place not in