Below is the edited transcript of Pieters' interview with CNBC-TV18
Q: What is your take on TRAI's view on reserve price?
A: It was not a surprise because TRAI came out with a very solid set of recommendations in the first place. This wasn't the rebound so to say. So, we didn't expect that TRAI in such a short time now would suddenly change its mind.
Q: With the TRAI digging its heel in on its recommendations do you believe that DoT and the telecom commission will finally agree and adhere to the recommendations, is that your hope?
A: I am not a member of that commission. What we have seen is that there is a kind of hesitation in the bureaucracy to take tough decisions for reasons we all know the 2G scam, bureaucrats being blamed sometimes 10 years later for things they might have done. So, there is a kind of general resistance to take tough decisions and bite the bullet. That is why it was sent back to TRAI.
TRAI has come with more or less the same recommendations, so that gives a good reason for the Telecom Commission now to adopt these and send them on to the EGoM for a decision.
Q: If we actually see the telecom commission and the government decide we are not going to go down the road of the TRAI but we are going to stay where we are as far as spectrum prices are concerned, are we likely to see a third failed auction?
A: I see no reason why if you would not change the price why it would go any better in the next auction. What the TRAI has done, it has made it very clear that for this country we are in a situation that is actually not good for the country. It is not good for the ex-chequer because there is no money coming into the coffer of the finance minister and he needs it desperately as you know, but also the country needs better services and needs more broadband services.
The spectrum policy as now laid out by the TRAI opens up the window to make sure that where this industry was stuck for two or three years in a lot of trouble due to various reasons to make a fresh start and make sure that there is a future not only for the companies in the industry, but I would say for India because India is really far behind if it comes to broadband penetration.
Q: Department of Telecommunications (DoT) has been tweaking M&A guidelines and perhaps making it better for the large telecom players to say that permissible market share can go up from 35 percent to 50 percent. Does that make sense? Does it make it better? Are we actually going to see consolidation over the next 3-5 years in this country?
A: We need to see consolidation. Consolidation is happening while we speak, but it is what I always call course consolidation, meaning that you have seen quite a lot of telecom companies that were there three years ago are completely disappearing or reducing the level of activity in the country. Some of them who used to be country-wide, nation-wide are now only in a few circles.
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