Bharti Airtel, India 's leading mobile operator, said it could "move pretty quickly" if the board of MTN, the South Africa-based telecoms group, puts itself up for sale on Monday.
Bharti will invest an additional $500 million (over Rs 3,700 crore) into OneWeb, to become the largest shareholder in the satellite communications company that billionaire Sunil Mittal-run Bharti Group along with the UK government had rescued from bankruptcy last year. The investment is a result of exercise of a 'call option' by Bharti. On completion of the transaction and with Eutelsat's $550 million investment, Bharti will hold 38.6 per cent. The UK government, Eutelsat and SoftBank will each own 19.3 per cent, OneWeb said in a statement.
Bharti Airtel chairman Sunil Mittal has expressed hope that the government and regulators will step in to ensure the sector remains a viable place for continued investments and asserted that the industry requires "long overdue" support to maintain its current 3+1 structure. In the latest annual report of Airtel, Mittal said as the sector's role in the economy becomes more pervasive, its challenges loom larger. Issues such as unsustainable pricing and low returns in a highly capital-intensive environment, coupled with legacy legal issues, "have extracted their toll", Mittal observed.
Bharti Airtel promoter Bharti Telecom will buy a 3.33 per cent Airtel stake from Singtel for 2.25 billion Singapore dollars or about Rs 12,895 crore in 90 days' time, the telecom operator said on Thursday. Bharti Group chairman Sunil Bharti Mittal's family and Singtel are co-investors in Bharti Telecom (BTL). Singtel in a statement said that after the transaction, Singtel Group is expected to own an effective stake of 29.7 per cent in Bharti Airtel, which is estimated to be worth SGD 22 billion (about Rs 1.26 lakh crore).
India recognised acts of gallantry by armed forces personnel and senior military officers involved in Operation Sindoor, along with other distinguished service awards, on the eve of the 79th Independence Day.
The telecom industry, he said, is vital to the nation and the digital agenda of the government.
Mittal asked the Supreme Court to quash CBI court summons.
Mittal's salary in 2019-20 was Rs 26.97 crore, unchanged from the previous fiscal year. However the value of perquisites was Rs 99.8 lakh, down from Rs 1.87 crore a year back. His retirement benefits were unchanged at Rs 2.15 crore.
Incidentally, the shareholders' approval for Shravin Mittal's appointment with an annual salary of up to Euro 250,000 (nearly Rs 1.50 crore), came on the same day (September one) when Wipro promoted chairman Azim Premji's son Rishad as chief strategy officer. Shravin would be a staff member in Bharti Airtel International (Netherlands) BV, or BAIN.
As a group director and as a member of the management board, Walia's responsibility would be human resources and integration for Bharti group.
Sunil Mittal, President, CII, met French President Nicolas Sarkozy met in Paris to discuss Indo-France business relations.
'We operate in 16 countries already, and therefore adding the UK to it, and beginning a chapter in the European continent is the next step.'
Sunil Bharti Mittal, chairman and group CEO of Bharti Enterprises and former president of the Confederation of Indian Industry, said on Tuesday that it was time for the United States to change its position towards India vis-a-vis Pakistan.
The scrip had touched an all-time high of Rs 1,149 on the bourse earlier in the day. Mittal, who owns about 50 per cent stake in the group's flagship Bharti Airtel, saw his wealth soar to Rs 1,01,314 crore (about $25.51 billion), joining the league of trillionaires Mukesh Ambani, Anil Ambani and Azim Premji.
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.
Bharti Enterprises will kick off its retail venture early next year, opening half-a-dozen stores -- branding of which is still being worked out with its back-end partner Wal-Mart.
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.
Bharti Group's retail venture in partnership with the world's biggest retailer Wal-Mart is going to be a low-key affair with its launch planned in phases over a period of time.
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.
Has already invested $13 bn and needs another $9 bn to expand business, even as cash demands rise at home
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."
Bharti group chairman Sunil Bharti Mittal today asserted that the question of buying Hutchison's stake in its Indian joint venture Hutchison Essar Ltd would only arise after the Ruias had decided the future course of action.
Bharti loses 24% in 2008 compared to 62% for Tata and over 73% for ADAG. He tried to light an oil lamp with a candle, but somebody had put in too much oil. The wicks were soaked and refused to catch fire.
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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.
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.
We will introduce the Airtel brand in Africa in all the markets
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.
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.
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 largest listenership for Vividh Bharati outside the country is in Spain.' 'The labourers who go there for the tomato-picking season feel cut off from their country and listen to Vividh Bharati to overcome their loneliness.'
The estimated costs of these weddings start from Rs 100 crore and go up to Rs 700 crore.
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".
