Prudential plc has announced its acquisition of a 75 per cent stake in Bharti Life Insurance for approximately 3,500 crore, a strategic move to secure majority ownership in the Indian life insurance market. This acquisition necessitates Prudential reducing its holding in ICICI Prudential Life Insurance to below 10 per cent.
Sunil Bharti Mittal-led conglomerate Bharti Enterprises and private equity firm Warburg Pincus will collectively acquire a 49 per cent stake in Haier Appliances India, the local unit of China's Shandong-based Haier group, for an undisclosed amount. The transaction, according to industry sources, values the company at about 15,000 crore.
Sunil Bharti Mittal, 68, will retire as chairman of Airtel Africa in July after the conclusion of this year's annual general meeting (AGM), the board of the African arm of India's second-largest telecom service provider Bharti Airtel said in a statement to the exchanges on Wednesday.
As David Dhawan hints at potential retirement after Hai Jawani Toh Ishq Hona Hai, we revisit his iconic Bollywood comedies that defined an era of entertainment.
The much-awaited Wal-Mart-Bharti tie up will take some more time to be finalised as the world's largest retailer said it was not making any business announcement during the India visit of its vice chairman Mike Duke
'On national security issues, there can be no compromise.'
As part of a plan to refinance debt and expand its upcoming constellation of satellites, French satellite major Eutelsat Communications will raise euro 1.35 billion, or $1.55 billion, through a reserved capital increase and a rights issue, the company announced on Friday. Bharti Enterprises' space venture, Bharti Space Ltd, will invest euro 31.4 million, or $36 million, in the capital raise.
The 2025 contraction marks the steepest decline in both the number of billionaire promoters and their aggregate wealth since 2012.
Jio Platforms Limited is likely to have a valuation of $148 billion by the time it goes public on the back of strong free cash flow and potential deleveraging, ICICI Securities said.
Bharti Tele-Ventures Ltd's board approved a plan for amalgamation of its subsidiary companies Bharti Telenet Ltd, Bharti Telesonic Ltd, Bharti Broadband Networks Ltd and Bharti Comtel Ltd.
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 .
Asked for comments about Commerce and Industry Minister Anand Sharma informing the Rajya Sabha in September that Wal-Mart had made the investment in Cedar via its Mauritius arm but the RBI had no FDI data of the same, Mittal said: "I have no idea. We have given everything what is required".
The key team members are in place. Prateek Agrawal, the equity head is from ABN AMRO AMC, Sujay Das, the fixed income head came from DSP Merrill Lynch AMC and Nanda Kishore S, the marketing head is from Sundaram BNP Paribas AMC. Dasgupta himself is from Deutsche AMC. Bharti-AXA has a 35-member strong team, which would be expanded to 70 by June.
Former Walmart India head Raj Jain has been roped in as an advisor by the Bharti Group, which on Wednesday parted ways with the US retail giant to operate stores independently in India.
India's biggest telecom players, Bharti Airtel and Reliance Industries-backed Jio Platforms, will soon bring billionaire Elon Musk-led SpaceX's Starlink satellite services to India. According to analysts, the move could boost India's tele density, especially in the rural areas, and may be an opportunity for investors to add the two stocks on dips for long-term gains
US retail giant Walmart has asked the government for more time to convert $100 million of debentures held in a Bharti Group unit, an investment that's being investigated for alleged violation of norms.
Bharti Tele Ventures Ltd has posted a net profit of Rs 65.20 million for the quarter ended December 31, 2002 as compared to a net loss of Rs 78.90 million in the quarter ended December 31, 2001.
Global retail giant Walmart has got fair trade regulator CCI's green signal for purchase of Bharti group's almost 50 per cent stake in their Indian joint venture for wholesale stores business.
Starlink's application for offering satcom services in India had been held up for the company's inability to comply with mandatory ownership disclosure norms.
The company received a fresh equity infusion in 2012-13.
Bharti Retail launched its first mall, The Pavilion, in Ludhiana.
We are also trying to bring in modern processes and technologies in the area of supply chain, logistics and cold chain that should ultimately benefit the entire retail ecosystem through better quality, and more choice at better prices, says Bharti.
Telecom major Bharti Enterprises has announced a 50:50 joint venture between its subsidiary Bharti Teletech and Nasdaq-listed Teletech Holdings, a global player in customer management solutions arena.
"We are interested in states like West Bengal, but the government does not seem enthusiastic about this.Currently, we are looking at states which are more proactive and have invited us in setting up this venture," said Rajan Bharti Mittal, vice chairman and managing director of Bharti Enterprises.
Bharti Tele Ventures on Tuesday said the groups' foray into the retail segment, through a joint venture, would be finalised in the next three-four months.
Services and manufacturing conglomerate Bharti Enterprises on Thursday announced its foray into agri-business in partnership with Rothschilds with an initial investment of Rs 250 crore (Rs 2.5 billion).
Bharti Enterprises on Tuesday said it expected to start its life insurance venture with French major Axa by June end.
In October, Wal-Mart called off its six-year-old partnership with Bharti Enterprises and decided to operate wholesale stores independently in India.
Bharti-Walmart, the joint wholesale retail venture between Bharti Enterprises and the world's largest retailer Wal-Mart Stores Inc of the US, unveiled its sustainable agricultural programme at Haider Nagar village, near Malerkotla in Punjab.
Telecom major Bharti and world's biggest retailer Wal-Mart Stores Inc on Monday signed an agreement to form a joint venture for their wholesale cash and carry business.
While a company spokesperson said Bharti would either dilute its stake or exit the venture, the fund house is trying to rope in a bank to strengthen its distribution network. In addition, an asset management venture is seen to have closer links with banks, which are looking to offer a wide range of financial products.
Bharti Enterprises and US-based Wal-Mart Stores entered into a joint venture in August 2007 and started cash-and-carry stores named 'BestPrice Modern Wholesale' last year.
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.
Bharti-Walmart Pvt Ltd, the joint venture between Bharti Enterprises and global retail major Walmart Stores, on Wednesday opened its first agricultural cooperative centre at Sirhind in Punjab.
Bharti Global, the offshore investment arm of Bharti, has been awarded comprehensive licences to operate 3G as well as 2G mobile services in Guernsey, an island located in the English Channel in Europe.
It is introducing a new business model to manage fixed line and DSL broadband networks.
