'Please continue to bless and pray for us on this new journey! Keith & Rochelle + One'.
Telecom giant Bharti Airtel on Wednesday called off discussions with MTN for the $23-billion merger deal saying the South African government has rejected the proposed structure.
India's telecom subscriber base grew to over 1.17 billion in October with Bharti Airtel maintaining its leadership in mobile subscriber addition that accounts for over 98 per cent of total connections in the country, according to the monthly report released by sector regulator Trai on Wednesday. This is the second consecutive month when Airtel added highest number of subscribers. In September, it had regained the leadership position in subscriber addition after a gap of four years. The Sunil Bharti Mittal-led company added 3.67 million new customers in October, taking its total wireless customer base to 330.28 million in October 2020, the Telecom Regulatory Authority of India's (Trai) report said.
Sunil Mittal promoted Bharti Group garnered the largest subscriber base of 37.50 lakh (3.75 million), followed by BSNL and Hutchison Group.\n
Bharti Televenture, a flagship of Sunil Mittal promoted Bharti Group, on Friday turned a one billion dollar company with its turnover touching Rs 5002 crore ($1.13 billion)
'If you are going to have only a handful of telecom players on whom the entire dream of Digital India rests, it's important they are financially sustainable.'
The judge summoned Birla as one of the accused in the case.
Bharti group on Tuesday announced a whopping $13 billion investment for the next five years of which at least 70 per cent would go into expansion of domestic telecom operations
Bharti Airtel is understood to have entered into an agreement with IBM for managing its IT and network-related services.
In yet another major outsourcing deal, Sunil Mittal-owned Bharti Group on Tuesday entered into a over Rs 580 crore ($125 million) deal with telecom major Nokia to expand the network in eight circles.
A sharp dresser, with a prominent jawline, Kohli will now have to contend with aggressive competition from Vodafone-Essar, perhaps the toughest so far in his career.
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
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.
Bharti will have to deal with 15 different regulatory regimes in Africa as opposed to just one in India.
Sunil Mittal-promoted Bharti Group on Friday announced a net profit of Rs 619 crore (Rs 6.19 billion) during the 2003-04 fiscal as against a loss of Rs 134 crore (Rs 1.34 billion) in the previous fiscal.
Telecom operator Bharti Airtel on Friday said it has signed an agreement to buy Vodafone's 4.7 per cent stake in Indus Towers on the condition that the proceeds will be used for investment in Vodafone Idea and clearing its dues towards the mobile tower company. Debt-ridden Vodafone Idea (VIL) has been unable to pay dues to Indus Towers and both VIL and promoter Vodafone have proposed a payment plan to clear the outstanding amount by July 15. In the meantime, VIL has committed to pay certain minimum amount each month to Indus Towers.
According to the Election Commission data, 30 out of the state's 40 Lok Sabha seats went to the BJP-led coalition in the latest elections, a sharp drop compared with 39 in 2019 and lower than the tallies of 2014 (31) and 2009 (32).
R C Bhargava, Kiran Mazumdar-Shaw & Dinesh K Sarraf are other members of the business delegation
In his first public appearance after talks were called off on September 30, Mittal, who is CMD of Bharti Airtel said, "No further talks with MTN and the current round is over."
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.
Bharti Group offering mobile services under AirTel brand has become the first private telecom conglomerate to complete nationwide network in all 23 circles at an investment of Rs 15,000 crore (Rs 150 billion) till now.
Sunil Mittal promoted Bharti Televentures has signed an agreement to join the South East Asia-Middle East-Western Europe-4
The Bharti Kisan Union (Ekta Ugrahan) will on Saturday hold dharnas outside the residences of three senior Bharatiya Janata Party leaders in Punjab on the fifth day of the farmers' protest over their various demands, including a legal guarantee for a minimum support price (MSP).
The market regulator, in a notification on Tuesday, said MTN would only need to make an open offer when the GDRs issued by Bharti for the takeover are converted into equity shares with voting rights. For now, Sebi has given an exemption, saying the proposed deal structure does not require an open offer since MTN's shareholding in Bharti will only be through GDRs.
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.
Telecom service operator Airtel on Thursday urged the government not to charge high fees for allotting 5G spectrum, saying a faster roll out of the next-generation telecommunication network can have more benefits than collecting revenue in upfront cost. Sunil Bharti Mittal, chairman of Bharti Enterprises which runs the country's second largest telco, said that there are a variety of applications across sectors ranging from healthcare to video interactions, which will make 5G a technology to be introduced as soon as possible. "5G is important and that's why we keep on requesting the government to make the 5G as an enabler for hundreds of things that we develop in the country, to keep the spectrum at affordable pricing, to not load the industry too much," Mittal said at the Times Network India Economic Conclave.
Supporting West Bengal Chief Minister, Buddhadeb Bhattacharjee's stand, Mittal said, "Let us see for the next 7-10 years what Indian companies deliver and then we can take a call."
US retail chain Walmart is awaiting a decision by its board decision on its India strategy, including its partnership with the Bharti group.
The company faces $3-bn payout to Econet Wireless.
During the exclusive agreement, Bharti would assess the financial parameters and other related issues, including regulatory norms that are needed to be in place for the deal that could make Bharti among the top 10 operators globally.
Bharti Airtel operates in 20 countries across Asia and Africa and is the world's fourth-biggest cellular carrier by customers
After ending its wholesale partnership with Walmart, Bharti Retail has decided to merge with the Future group
In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
Sunil Mittal-promoted Bharti on Friday reported an over nine-fold jump in its net profit to Rs 296 crore (Rs 2,960 million) in the first quarter ended June 30 compared to Rs 31 crore (Rs 310 million) for the corresponding quarter last fiscal.
Home minister heads several groups of ministers, including the one to decide the revival package for Bharat Sanchar Nigam and Mahanagar Telephone Nigam. His ministry also takes decisive calls on national security in relation to telecom operations as well as equipment and technology used in the industry.
Bharti Group on Monday entered into an agreement with Shyam Group to acquire its entire 67.5 per cent stake in Hexacom, a cellular operator in Rajasthan, for a consideration of Rs 430 crore.
Sunil Mittal-owned Bharti Group may soon become the first private telecom company to offer services in Jammu and Kashmir if their licence application gets government approval.
In its drive to expand telecom services both in mobile and fixed line segments, Sunil Mittal-led Bharti Airtel on Tuesday awarded a $900 million contract to Nokia Siemens to deploy equipments in various circles in which it operates.
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