Bharti Airtel said it might look at diluting some of its equity either at Bharti Airtel or at its tower subsidiary as one of the options to fund the $10.7-billion acquisition of African assets of Zain Telecom.
The joint-venture's first wholesale store is expected to be opened by the end of 2008, Wal-Mart India President (Operations) Raj Jain had said.
Tech billionaire Elon Musk thanked Telecom Minister Jyotiraditya Scindia for not agreeing with Indian tycoons Mukesh Ambani and Sunil Bharti Mittal on auctioning spectrum for satellite services, saying he is looking forward to serving Indians. Reacting to Scindia's statement that satellite spectrum will not be auctioned, Musk, in a post on X, said, "much appreciated! We will do our best to serve the people of India with Starlink".
Bharti Enterprises has had a joint venture with Walmart in the wholesale trade for years in India.
While Airtel's financial performance started improving from third quarter of 2013-14, the the drop in the total remuneration of Mittal has been mainly because of Rs 75 lakh (Rs 7.5 million) reduction in performance-linked incentive, as per the latest Annual Report of the company.
A Delhi court on Tuesday summoned as accused chairman-cum-managing director of Bharti Cellular Ltd Sunil Bharti Mittal, Essar Group promoter Ravi Ruia and five others in a case relating to alleged irregularities in allocation of additional spectrum to Airtel and Vodafone during the National Democratic All regime.
According to South Africa government officials, they are working closely with India through their respective finance ministries on the proposed deal between Bharti Airtel and MTN, including seeking exemption on a range of exchange controls regulations.
Coming under flak by the Left parties for Wal-Mart's entry into the Indian retail market, Bharti Enterprises on Friday said its tie-up with the US firm was "as per the guidelines".
Calling for a strong collaboration between industry, the Centre and states to tide over infrastructure gaps, he said it is time the country catapulted itself into a major manufacturing hub by positioning it as an alternative to China, which is the world's factory now.
India's largest private telecom operator Bharti is eyeing 25 million subscribers in the next two years and expects to close the fiscal with 12 million customers.
Bharti Group-backed OneWeb on Monday said it has entered an arrangement with the commercial arm of ISRO, NewSpace India Limited (NSIL), to launch its satellite in India from 2022.
Bharti chairman Sunil Mittal MTN group president and CEO Phuthuma Nhlek had met Finance Minister Pranab Mukherjee on Monday. The two telecom majors extended the deadline for exclusive talks for their proposed $23-billion deal to the end of next month recently.
The Bharti Foundation and its associates have decided to open 1,000 primary schools in villages across the country with an investment of Rs 200 crore (Rs 2 billion).
Bharti Enterprises, which had last year announced a $2.5-billion investment for its retail venture, is expected to announce its final plans, including that of opening of the first store, within the next two months.
Shares of Reliance Industries as well as Bharti Airtel began the trade on a positive note on Wednesday after the two firms announced their partnerships with Elon Musk's SpaceX for providing high-speed internet services in India. Bharti Airtel stock opened with a gain of 5.49 pc to hit a high of Rs 1,388.25 apiece on the National Stock Exchange (NSE). Soon, it pared all gains and traded 0.77 per cent lower to Rs 1,650.10 per piece.
Reliance Industries Chairman Mukesh Ambani on Monday said his company is open to joining hands with Bharti Airtel for improving telecom network for 4G services in Punjab.
Sunil Bharti Mittal may have made big bucks out of the mobile telephony revolution in India, but the man says it was a saga of struggle, fight and the "mother of all battles."
Vi partners SpaceX-rival AST SpaceMobile for satcom service on smartphones
We will introduce the Airtel brand in Africa in all the markets
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On May 24, 2012, Bharti Airtel and Qualcomm announced an agreement under which Bharti had acquired 49 per cent interest in Qualcomm AP's India entities with licences to offer 4G data services in four circles of Delhi, Mumbai, Haryana and Kerala.
January 22, 2024 has passed into history. Scenes from a day of religious fervour in many parts of India.
India needs another shot of difficult reform, of the kind only possible at gunpoint. Mr Trump holds that gun to our heads now. A drastic reduction in tariff protection, other elements of sarkari wet-nursing will force entrepreneurial India to become competitive again, argues Shekhar Gupta.
Bharti Global is planning to put up more satellites and has set a stiff deadline to launch commercial Internet services by October in the UK, Alaska, northern Russia and northern Europe.
The 'Pran Pratishtha' of the idol of Ram Lalla -- the childhood form of Lord Ram -- will be attended by people from all walks of life, including representatives of major spiritual and religious sects of the country and of various tribal communities and prominent personalities.
Bharti Global and UK government-led OneWeb on Friday announced the launch of 36 communications satellites and said it aims to offer high-speed internet from its constellation of satellites in India by mid-2022. The recommencement of satellite launches by OneWeb comes within weeks of billionaire Sunil Bharti Mittal-run Bharti Group along with the British government taking over as the new owners of the broadband satellite communications company, which emerged from bankruptcy. The Low Earth Orbit (LEO) broadband satellite communications company on Friday launched the 36 satellites from a Soyuz launch vehicle, which began from the Vostochny Cosmodrome, in Russia.
Elon Musk's Starlink has got licence for satcom services in India, according to sources.
Mittal's total remuneration dipped marginally by 2.52 per cent.
Industry leaders on Thursday mourned the death of Ratan Tata saying with his demise India has lost a visionary who shaped its industrial and philanthropic landscape. Tata was a truly remarkable business leader who placed the country before business interests, and whose vision was truly transformational for a country and its people, TVS Motor Co Chairman Emeritus Venu Srinivasan said in a statement. "Mr Tata was a truly remarkable business leader, the likes of whom nations get only once in a century," he added.
Says spending $3 billion every year on networks alone
Bharti Retail on Friday announced appointments of former head of Walmart India Raj Jain as its CEO and Pankaj Madan, another senior executive of erstwhile joint venture Bharti Walmart, as Chief Financial Officer.
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
Airtel acquired African telecom operator Zain in 2010 for $10.7 billion.
Spectrum allocation for satellite services came up as a dominant theme at the launch of 36 communication satellites by OneWeb, a Bharti group venture, here on Sunday. Following the launch, Bharti Enterprises chairman Sunil Mittal, in a conversation with a group of reporters, reiterated that spectrum auction did not make sense in the case of satellite services. "This (satellite services) is not competing with mobile services where you can justify the auction.
Enquiries indicate it belongs to an industrialist with links to a prominent cricketer.
The apex court had on December 4 last year, reserved the verdict after hearing counsel for corporate honchos and the Central Bureau of Investigation.
India's second richest person Gautam Adani received a total remuneration of Rs 9.26 crore in the fiscal year ended March 31, 2024, lower than most industry peers as well as his own key executives.
Supreme Court had on October 24 upheld government contention that non-core revenue in telecoms groups should be included in adjusted gross revenue. According to DoT's calculations, Bharti Airtel faces a liability of around Rs 42,000 crore after including licence fees and spectrum usage charges while Vodafone-Idea may have to pay about Rs 40,000 crore.
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