Indians leave bankers in the cold in $23 billion telecoms mega-deal

March 22, 2017 By Sumeet Chatterjee and Devidutta Tripathy HONG KONG/MUMBAI (Reuters) – Investment banking business in India should be enjoying bumper fees after a record year of dealmaking. It’s not, and big banks blame in-house teams of advisers that have proliferated as the country’s top family-owned conglomerates tighten their grip. This week’s $23 billion tie-up between Idea Cellular, controlled by the Aditya Birla Group, and the Indian business of Vodafone Group, is the latest example of a trend that is squeezing major international investment banks. Many are struggling in…

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