SINGAPORE (Jan 17): On Jan 9, Bharti Airtel, once again, stretched its hands out, beckoning investors for more capital. By the end of the day, bankers have helped collect total subscription money of some US$10 billion ($13.5 billion) — more than three times the US$3 billion the Indian mobile operator’s trying to raise.

Evidently, investors are optimistic that Bharti’s earnings will recover, as the price war that bled the mobile operators in India reached a truce late last year. For more than three years, deep-pocketed, privately-held Jio, backed by the Reliance conglomerate, waged a price war for market share. Incumbents such as Bharti and Vodafone were forced to lower prices and compete. Commercial sense finally prevailed. With effect from December, mobile users in India now have to pay up to 40% more in data tariffs.

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