Billionaire’s India Telecom Unit Boosted From Connection Fee Cut

One year after storming into India's mobile phone market with free data and voice services, billionaire Mukesh Ambani's telecom unit is gaining momentum against its bigger rivals via a regulatory decision to lower interconnection fees. The reductions that begin Oct. 1 will probably bolster Reliance Jio Infocomm Ltd.'s earnings by 76 percent in the year ending March 2019, Morgan Stanley analysts Parag Gupta and Amruta Pabalkar estimate.