This is what I said earlier regarding Telsima-Harris acquisition: WiMAX player Telsima lapped up? Few questions..
“The entire deal looks like it is a distress sale. Clearly looks like the team did not get anything out of this. Even investors might have lost some money. Clearly it is not a deal that makes Telsima proud of it.”
And we stand correct. The deal amount announced is $12mn(in cash).
Distress sale? Well, Investors invested $92mn in Telsima – so straightaway erosion of $80mn.
Raising the same questions that we raised earlier:
- What does this mean of Vinod Dham’s companies. Most of them are floundering. Not a single success story so far. Even his association with Satyam is not a great thing to talk about.
- Is it a good thing for WiMAX or Wireless Infrastructure companies? Would new investors invest in such big stories anymore? Clearly looks like this will send shivers down their spine.
What’s your opinion?
