Spectrum auction for mobile radiowaves services worth Rs 96,000 crore ended with bids worth about Rs 11,000 crore, according to sources. The government has put over 10,500 Mhz spectrum in eight frequency bands -- 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz, valued at Rs 96,238 crore at base price, for auction.
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.
With strong GDP growth, expanding base of start-ups and growing trend of new technologies like cloud in the country, the 21st century is Indian century, IBM chief Virginia Rometty said.
As Vodafone started examining the books of Hutchison Essar, its existing partner Bharti Airtel on Tuesday said it has not been approached by anyone to buyout British telecom firm's stake in the company.
Bharti's undersea fibre-optic cable connecting Chennai with Singapore has not been affected by the deadly tsunami waves, triggered by the massive quake off the Indonesian coast, its CMD Sunil Mittal said on Tuesday.
Bharti Airtel chairman Sunil Mittal on Wednesday said the regulatory regime needs to be simple to avoid fresh litigations in the telecom sector, asserting that collaboration among competing players, lower duties and reduction in spectrum pricing will help unleash the full potential of the industry. The telecom czar noted that the "temperature" of the industry needs to be lowered when it comes to litigations and appealed to the government to look into the matter. The timely reforms that were announced brought in cheer and heightened comfort for all the active players in the sector, Mittal said and urged the industry counterparts to focus on building the next wave of connectivity in the run-up to 5G and beyond.
Just as his father Sunil Mittal ignited a revolution in telecom in India, Kavin is trying to do so in a space that represents the rapid convergence of two industries-the internet and telecommunications.
Sunil Mittal-controlled Bharti group on Monday said that it would not participate in the airport modernisation project at Delhi.\n
UK telecom giant Vodafone has offloaded its 5.6 per cent direct stake in India's mobile leader Bharti Airtel to promoter Sunil Mittal's group for $1.6 billion, coinciding its acquisition of controlling stake in Hutch-Essar.
Apple, which is seeing declining sales elsewhere in the world, is betting big on India for growth as sales here saw an impressive 56 per cent growth in the January-March 2016 quarter.
Former President A P J Abdul Kalam was among a large number of voters in several constituencies in Delhi who on Wednesday faced problems while exercising their franchise because of the malfunctioning of Electronic Voting Machines.
In a pre-Budget meeting with Revenue Secretary Sunil Mitra, Ficci President Rajan Bharti Mittal said in view of the looming threat of a double-dip recession and another slowdown in western countries, the stimulus should not be rolled back in the Budget in February.
Prime Minister Narendra Modi on Tuesday hosted British royal couple Prince William and Kate Middleton for lunch to the accompaniment of classical music.
While Bharti's retail stores will be fully Indian, they will be able to take advantage of the tremendously low prices and technology advantages that Wal-Mart will bring to Mittal-Mart's sourcing.
The court, after going through the apex court's order on separate petitions filed by Mittal and Ruia, listed the matter on April 16 for further proceedings. The apex court will hear their pleas on April 15.
Bharti Enterprises, the holding company of Bharti Airtel and other businesses such as insurance and retail is aiming to achieve $10 billion revenue by 2010 and become a strong conglomerate a decade later, its chairman Sunil Mittal said on Monday.
Huawei came under a cloud after allegations that the firm's electronic and telecom devices helped China spy on US corporations and agencies.
Sunil Mittal-owned Bharti Group has formed a consortium with Changi Airport of Singapore (a 50:50 joint venture) to bid for the development and management of Delhi and Mumbai airports.
Coercion does not work. People will find ways to come around it. No one can legislate that industry cannot spend, or not be ostentatious, says Sunil Mittal.
Telecom regulator TRAI has issued a show cause notice to Bharti Group, offering mobile services under AirTel brand, for violation of licence conditions by continuing a particular service inspite of the government's instruction to stop it.
This correction in tariffs is required to compensate for the company's rural business.
He feels that the reserve price set by the government for the 2G spectrum auction was very high.
Billionaire Sunil Mittal, arguably India 's most successful telecom entrepreneur, may be on the verge of starting another revolution in the country's corporate world. Mr Mittal, who has built his mobile operator Bharti Airtel from a bit player into a $40bn company in less than a decade, is now pondering a deal that could leave him holding a much smaller share in the group but turn it into a global player.
Bharti Airtel on Wednesday announced a new corporate structure to sharpen the company's focus on rapidly unfolding digital opportunities while enabling it to unlock value. The move comes at a time when digital is turning out to be a compelling proposition for players in the Indian market, where the use of smartphones and better broadband connectivity has spurred the adoption of a new range of services. Players are positioning themselves beyond the core telephony offerings, as they enhance digital engagement, build future streams of revenue and create brand differentiation, besides redefining themselves as a larger platform of digital services, say market watchers.
The Bharti Group is raising $320 million in loans from a clutch of banks, including ABN AMRO and Singapore's DBS Bank, group chairman Sunil Mittal said on Tuesday.\n\n\n\n
Billionaire Gautam Adani's Group on Wednesday announced the acquisition of SoftBank Group Corp's renewable power business in India for a deal value of $3.5 billion (approximately Rs 25,500 crore), to become the world's largest solar company. In a statement, Adani Green Energy Ltd, the renewable energy unit of the port-to-energy conglomerate, said it has inked share purchase agreements to buy 100 per cent of SB Energy India from SoftBank and Bharti Group. Without giving deal details, the statement said the transaction values SB Energy India at an enterprise valuation of approximately $3.5 billion, it stated. The transaction marks the largest acquisition in the renewable energy sector in India.
Following Reliance's move to offer roaming at no extra charge, Sunil Mittal owned Bharti Group on Friday announced new roaming charges without monthly rental of Rs 99 and incoming calls costing just Rs 1.99 per minute.
The deal enables Bharti Airtel to extend its services in 15 countries across the African continent.
Several high profile companies are burdened with losses, mounting debt and have a huge load of operational costs.
Having sold 62 million equity shares last week in Sunil Mittal owned Bharti Group, Warburg Pincus has said that its investments in the Bharti company was one of most successful investment and expressed satisfaction about the deal.
Sunil Mittal's Bharti, in which British telecom firm Vodafone has 10 per cent stake, said on Thursday it is yet to hear a final word from the UK-based operator on its plans to buyout Hutchison Telecom's stake in Indian joint venture Hutch-Essar.
Sunil Mittal-owned Bharti Airtel had acquired 70 per cent stake in Warid Telecom of Bangladesh for $300 million (about Rs 1,363 crore) earlier this year.
Earlier this week Vodafone CEO Vittorio Colao had said, 'one day we will discuss (Vodafone and Bharti Group) what to do with the stake. To have a discussion on any issue we need to have both the partners.' In 2005, Vodafone had bought a 10 per cent stake in Bharti Tele-Ventures Ltd (BTVL) for Rs 6,700 crore (Rs 67 billion).
In a show-cause notice, the information and broadcasting ministry asked Bharti Telemedia to furnish explanation failing which the government could consider suspending the licence till such time the company obtains necessary approvals from FIPB and meet the eligibility conditions. A Bharti spokesperson said the company has complied to all licence conditions in its DTH venture and the same has been communicated to the government.
This is the single largest foreign investment in India so far.
After outsourcing its network management and IT operations, Sunil Mittal-owned Bharti Group has given contract of its call centre operations for mobile services to four global majors in a deal, valued cumulatively at Rs 1,000 crore.
