A

COMPREHENSIVE PROJECT REPORT

ON

Pre and Post Analysis of Financial Statements of companies that involved in Merger &
Acquisitions deal in Telecom industry.

Submitted to

Institute Code : 778

SOMLALIT INSTITUTE OF BUSINESS MANAGEMENT

Under the Guidance of

Prof. Reshmi Banerjee

In partial fulfillment of the Requirement of the award of the degree of

Master Of Business Management

Prepared by:

Rushabh Shah

Aakash Bulani

MBA (Semester-IV)

April, 2019
 Students Declaration
I hereby declare that the Comprehensive Project Report titled “Pre and Post
Analysis of Financial Statements of companies that involved in Merger & Acquisitions deal in
Telecom industry.” is a result of our own work and our indebtedness to other work publications,
references, if any, have been duly acknowledgement. If I am found guilty of copying from any
other report or published information and showing as my original work or extending plagiarism
limit, I understand that I shall be liable and punishable by the university, which may include
‘Fail’ in examination or any other punishment that university may decide.

Enrollment No Name Signature

Institute Certificate
Plagiarism Report :
 PREFACE

The MBA Program, SomLalit Institute of Business Management, Ahmedabad is a standout

amongst the most eminent course offered in the territory of Gujarat. It gives an assorted course
educational modules covering practically famous courses offered in the province of Gujarat. It
gives a differing course educational programs covering practically every one of the zones of
Business Administration for its understudies. It empowers understudies to bridle their
administrative abilities and turn into the future leaders in the field of business.

Functional preparing is an essential piece of the hypothetical investigations. It is of a huge

significance in the field of the executives. It offers the understudy to investigate the significant
fortune of experience and a presentation to genuine work culture pursued by the ventures and
along these lines helping the understudies to connect hole between the hypotheses clarified in the
books and their reasonable usage.

Research Project assumes an imperative job in eventual fate of an individual with the goal that
he/she can better understanding this present reality in which he needs to work in future. The
hypothesis significantly upgrades our insight and furnishes chances to mix hypothetical with the
handy information.
 ACKNOWLEDGEMENT

We express our sincere thank you to Prof. Reshmi Banerjee who guided us throughout the
project and gave us their valuable time suggestions and encouragement.
 Index

Sr No Particulars Page No
1 Introduction 8
2 Major players in the telecom 21
industry and mergers and
acquisitions in the world and
in India
3 Challenges in mergers and 37
acquisitions deals in telecom
industry
4 Legal & Regulatory 43
framework related to M&A in
the Telecom Sector and
Reason behind merger and
acquisition
5 M&A process in telecom 48
sector
6 Introduction of study 51
6.1 Literature Review 53
6.2 Problem Statement 55
6.3 Objectives of study 56

7 Research Methodology 57
7.1 Data sources 58
7.2 Population of study 58
7.3 Data collection instrument 58
8 Data analysis and 59
interpretation
9 Overall analysis 97
10 Findings 115
11 Limitations 116
12 Conclusion 117
13 Bibliograbhy 118
14 Appendix 121