Bharti Airtel, India's largest private cellular operator, on Thursday announced an investment of over $2 billion (Rs 9,000 crore) in 2007-08 to expand network.
India's largest cellular service company Bharti Airtel will invest $600 million in Nigeria's mobile market following its take over of Zain Telecom's African business for around SUD 10.7 billion.
Bharti Airtel sees opportunity in raising tariff for data services as it feels that rich are paying less and poor are not required to pay anymore, a senior official of the company said. During the company's earnings call for the first quarter of the current fiscal, Bharti Airtel vice-chairman and MD Gopal Vittal said that the company has written to the government for a relief on adjusted gross revenue and has demanded that it should be given benefit at par with other telecom operator, without naming Vodafone Idea.
Sunil Mittal will become executive chairman.
Bharti Airtel on Tuesday welcomed the decision of the directors of Vodafone to abstain from its board meeting, in view of the UK-based telecom major's interest in acquiring rival Hutch-Essar.
To add to company's 'three-screen' strategy of mobile phones, IPTV and broadband.
Within a year of Gopal Vittal becoming the joint MD and CEO of Bharti Airtel's India operations, the company has elevated him as the MD and CEO for Bharti Airtel's operations in India and South Asia.
India's leading mobile operator Bharti Airtel Ltd will invest Rs 200 crore (Rs 2 billion) in Jammu and Kashmir during 2006-07 as part of moves to double its subscriber base in the state.
Bharti Airtel will spend up to $800 million (about Rs 3,565 crore) this fiscal on setting up infrastructure network for its new acquisition Zain Africa.
Bharti Global, the international investment arm of Bharti Enterprises, has decided to buy 24.5 per cent equity in BT Group - a move that will make the Indian conglomerate the biggest shareholder in the UK's second-largest telecom company both in terms of market value and subscriber count. The shares are being purchased from billionaire Patrick Drahi's Altice UK through a combination of cash and debt .
According to rating agency Fitch, India can in the long run support five-six profitable telecom operators.
He likes to try and try again, as the renewed merger talks with MTN have demonstrated.
Bharti Tele-Ventures Ltd, which runs GSM mobile services under the Airtel brand name, would invest around $1 billion this financial year for its capital expenditure plans.
The company had been posting decline in net income for the last 14 consecutive quarters.
This could mean an end to the talks for a possible partnership between the two firms in the multi-brand retail space -- less than a year after 51 per cent foreign investment was allowed in the sector.
Amid an existential crisis facing the firm over Rs 50,000 crore unpaid dues towards the government, billionaire Kumar Mangalam Birla on Wednesday stepped down as the chairman of Vodafone Idea Ltd. Birla -- who had in June offered to give away his holding in the joint venture with Britain's Vodafone to the government -- will cease to be a director and non-executive chairman of the company at the end of business hours on Wednesday, VIL said in a filing to the stock exchanges. It did not give any reason for Birla's decision. He will be replaced by Himanshu Kapania (who was earlier managing director and CEO of Birla's Idea Cellular) as the new chairman of Vodafone Idea Ltd.
A new board has been constituted for the merged entity 'Vodafone Idea Ltd' with 12 directors (including six independent directors) and Kumar Mangalam Birla as its Chairman. The board has appointed Balesh Sharma as the CEO, the companies said in a joint statement. The combination will have an all-India revenue market share of 32.2 per cent and take the numero uno slot in nine telecom circles, it said adding that both Vodafone and Idea brands will continue.
At the moment, data and broadband is small for BSNL: it contributes 10 per cent of the company's revenue, though its share is on the rise.
The uniform SUC, if implemented as per recommendations made by Telecom Regulatory Authority of India, will provide relief for mobile operators such as Airtel, Vodafone and Idea, but will increase rates for broadband wireless access spectrum holders like RJIL.
The 30-share Sensex ended down 30.30 points at 28,161.72 and the 50-share Nifty dipped 7.95 points at 8,543.
Nearly $120 bn will come from private sector
Non-resident individuals (NRIs) have also been allowed to apply for the niche banking licence, provided they plan to return to India.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
Financial shares were the top losers.
IFFCO is reaching out to the young Indian urban professional.
Auto stocks led the rally with Tata Motors, Hero MotoCorp and Maruti Suzuki leading the gains.
Telecom Secretary J S Deepak has resolved the toughest issues facing the sector, but his real test will be in delivering on the govt's Digital India dream
For some, he is a visionary who grew his one-channel firm into a media giant by the sheer dint of his courage; for others, he is a compulsive risk-taker.
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