Warid Telecom, a wholly-owned subsidiary of the Dhabi Group, offers mobile telecom services with a user base of over 2.9 million in Bangladesh.
The Department of Telecommunications has called a meeting of the heads of all leading telecom companies offering GSM technology services on November 21 to resolve contentious issues that have arisen following recent changes in telecom policy.
The company, according to industry sources, is hoping to get an FIPB approval before that. Market sources said the sales team has sounded out October 8 as the launch date. Government had earlier asked Bharti group to seek a separate FIPB approval within three months for its upcoming DTH services.
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.
'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.'
Confirming the SOX compliance exercise, a senior Bharti group executive, however, denied that the company was considering a foreign listing.
With investors seeking clarity from the market tribunal SAT on Bharti Airtel's proposed mega deal with MTN, the Sunil Mittal company today said it is still in discussion with the South African firm.
Bharti Airtel said net sales rose 7.9 per cent
The Wall Street Journal quoting two people familiar with the situation said Bharti has contacted West Asian sovereign wealth funds for additional cash to back its MTN bid for a majority stake. Further, the paper quoted another person and said that Bharti has already negotiated about $12 billion in financing from a group of banks that includes Standard Chartered PLC, but the deal may require more resources.
The proposed $23-billion mega deal between Bharti Airtel and South Africa's MTN would be India's biggest-ever M&A deal. Let us now take a look at the 10 largest M&A transactions involving an Indian company until now
Easily the biggest high-power gathering and by far the starriest event staged in Gujarat, concluded at the Reliance petro township in Jamnagar on Sunday.
India's retail giants, including Kishore Biyani's Future Group, Mukesh Ambani's Reliance Retail and Sunil Mittal-promoted Bharti group, have started negotiations with the railways for leasing land for retail development.
Zain Telecom on Wednesday said it would earn $3.3 billion from sale of its African assets to Bharti Airtel for $10.7 billion even as the Indian operator said the deal is well-priced.
The Bharti Group will on Monday announce a tie-up with Walmart for its retail operations, under which the world's largest retailer would manage the back end operations.
The delegation held meetings with the state department and the White House, besides meeting the US corporate leadership, policy makers and think tanks. Prominent among those the delegation met included Jim Steinberg, the Deputy Secretary of State at the Foggy Bottom headquarters of state department.
Reliance Industries chairman Mukesh Ambani continues to top India's richest list, according to the Hurun India Rich List 2014.
Billionaire Gautam Adani's group is said to be planning a surprise entry into the race to acquire telecom spectrum, which will pitch it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel, sources said. Applications for participating in the July 26 auction of airwaves, including those capable of providing fifth-generation or 5G telecom services such as ultra-high-speed internet connectivity, closed on Friday with at least four applications. Jio, Airtel and Vodafone Idea -- the three private players in the telecom sector -- applied, three sources with knowledge of the matter said.
Prime Minister Manmohan Singh is believed to have left it to telecom minister A Raja to resolve the tangle over allocation of spectrum, an issue that has brought industry bigwigs like Reliance Communications' Anil Ambani and Bharti Airtel's Sunil Mittal face to face.
B K Modi-promoted Spice Communications will decide before November 12 whether it will pull out of the COAI's petition in the TDSAT, where the association has challenged the government's decision allowing dual technology use and enhanced subscriber-based spectrum allocation.
The 50 million customers span mobile, broadband and fixed telephone services, with wireless segment estimated to be contributing as much as 96 per cent (47.99 million) of the total base.
US retail giant Wal-Mart, which has signed a joint venture with the Bharti Group for wholesale cash and carry business, will restrict itself to technical support and training in Sunil Mittal firm's foray into retail.
Bharti Televentures, in association with a Canada-based firm, on Tuesday launched Blackberry handheld devices offering 'always on' connectivity, targeted at high-end customers.
The stock market rout has caused the country's five richest, led by Reliance Industries Chairman Mukesh Ambani, to lose more than $10 billion in just about a fortnight.
Not too much is known about the middle-aged Arifuddin who is Vavasi's major shareholder, except for the fact that he is a civil engineer from Karnataka and started the group around a decade ago.
For innovation, Bharti Airtel and ICICI Bank are followed by Infosys, TCS and HCL Technologies in the top five. These are followed by Anil Ambani-led Reliance Communications, Wipro, Satyam, M&M and Hindustan Lever (now known as Hindustan Unilever in the order of their rankings.
The cumulative market value of the companies belonging to the groups led by the five wealthiest of the country Ambani siblings Mukesh and Anil, real estate magnate Kushal Pal Singh, software czar Azim Premji and telecom tycoon Sunil Mittal -- today fell to about Rs 8.5 trillion.
Bharti Airtel Chairman Sunil Mittal's bid for telecom major MTN Group has to contend with some tough negotiations with Lebanon's former prime minister Najib Mikati, one of the wealthiest men in his country, as well as stiff black economic empowerment policies in South Africa that provide for a major share in the management of companies located in the country to blacks.
Sunil Mittal's plan to merge his Bharti Airtel - India's biggest mobile-phone operator -with South Africa's MTN, coupled with the company's 3G foray, is likely to put pressure on its balance sheet, as the estimated cash requirement would be Rs 40,475 crore (Rs 404.75 billion) in this fiscal.
It's celebration time for Bharti Airtel, which last week became the third telecom brand in the world to cross the magic 100 million-subscriber mark in a single country. The gap between Airtel and its nearest competitor, Vodafone, is now about 26 million subscribers.
Bharti Retail, owned by Sunil Mittal's Bharti Enterprises, on Wednesday started retail operations in the country with neighbourhood store format, Easy Day, from Ludhiana in Punjab. Bharti has set up three stores in Ludhiana.Bharti has announced plans to invest Rs 10,000 crore (Rs 100 billion) to set up stores across the country by 2012. The company said that it is looking at a retail space of 10 million square feet and employ 60,000 people.
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.
Ahead of his scheduled meeting with Vodafone CEO Arun Sarin, who is bidding for Hutch-Essar, Communications Minister Dayanidhi Maran on Wednesday said the government wanted good companies to enter the country.
Tesco has admitted that its plan to be the first multinational supermarket retailer in India has unravelled.
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.
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
Sunil Mittal, promoter of India's largest private telecom company Bharti, on Thursday said any law to impose quotas would only encourage contract labour.\n
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