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?
Ashish Sinha