As Adani prepares to bid for 5G, should Mukesh Ambani prepare for battle?

Just the threat that Adani might eventually come after the $2-per-month customer could see capital-starved Vodafone Idea buckle, in which case he could swoop in on it later

It was too quiet to last. A sustained and brutal destruction of capital in India’s telecom industry was only just starting to give way to a period of peace and calm. The three operators who survived out of the dozen on the scene in 2016 must have been grateful for the end to a debilitating price war. Stable market shares and decent per-user revenue would support the next round of investment.

So imagine the anxiety that bubbled up on the news that billionaire Gautam Adani — the port and airport owner who’s so far had nothing to do with telecom