Bharti Airtel will spend up to $800 million (about Rs 3,565 crore) this fiscal on setting up infrastructure network for its new acquisition Zain Africa.
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.
Italy name 15-member squad for ICC men's T20 World Cup
Nepal will aim to secure their first T20 World Cup win against debutants Italy in a Group C match, following a narrow defeat to England. The match is scheduled for Thursday.
Tournament co-hosts India will be out to defend their Twenty20 World Cup title. The 10th edition of the 20-overs global showpiece event will run from February 7 to March 8.
Football giants Italy begin cricket World Cup's maiden campaign against Scotland
Tournament co-hosts India will be out to defend their Twenty20 World Cup title in familiar home conditions next month.
Bharti Airtel on Tuesday inked a definitive agreement with Kuwait's telecom firm, Zain, to acquire its African assets at an enterprise value of $10.7 billion
Once the deal is through, Bharti Airtel would be the seventh largest telecom company in the world, with a subscriber base of 171 million.
With competitive pressures increasing at home, Bharti is making a third attempt to gain a foothold in the African market.
A consortium comprising India's telecom PSUs BSNL and MTNL, among others, on Monday said it has started negotiations for acquiring control of Kuwait's biggest phone company Zain Telecom that has presence in 24 countries.
We will introduce the Airtel brand in Africa in all the markets
Bharti Airtel is counting on its "endearing" brand to build on its acquisition of Zain Telecom's African operations. In addition, it aims to do what Indian companies are getting increasingly known for: Reduce costs.
The idea is to reduce capital investments and improve profitability.
Bharti'suarterly revenue run rate continues to be hover around the $1.2 billion mar
Two years ago, the number was 4,000, according to Indian businessmen.
The company had already sought bids to set up towers in countries like Nigeria, Kenya and Tanzania, said sources. Bharti is giving these orders market wise, instead of one bulk order.
Bharti will have to deal with 15 different regulatory regimes in Africa as opposed to just one in India.
The company faces $3-bn payout to Econet Wireless.
Corporate India's merger and acquisition deal activity in February stood at $2.3 billion taking the total M
In what could give jitters to players like Nokia, Samsung and other such stables, Bharti on Sunday announced its entry into the fast-growing mobile handset business.
ontinuing its acquisition spree in the international market, Bharti Airtel on Wednesday said the company will acquire 100 per cent stake in Telecom Seychelles for $62 million (about Rs 288 crore).
Leading telecom operator Bharti Airtel on Wednesday said it has earmarked a capital expenditure of $3.1 billion (over Rs 14,000 crore) for India and other global operations in the current fiscal.
Mobile Telecommunications Company (Zain), the third largest telecom operator in West Asia and a leading operator in Africa, has initiated talks with several Indian telecom service providers to buy stakes.
Bharti's results included its new African operations that it acquired in June from Kuwaiti telecom group Zain.
Just before the 2008 financial crisis made headlines, Indian companies were on a global buying spree. In the fifth part of the series, Dev Chatterjee and Krishna Kant discuss how the crisis came as a black swan event for some, changing the mood from exuberance to despair.
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Revenue yield on every rupee of investment fell to Rs 1.06 in FY13 from Rs 1.20 in FY08.
Airtel acquired African telecom operator Zain in 2010 for $10.7 billion.
But, unlike its competitors, it did not have a comprehensive infrastructure back-end and required fresh investments.
Liability goes up by Rs 1,000 cr for every Rs 1 change in $ exchange rate
Bankers say it's a question of survival for debt-heavy companies.
Tata Steel, others sell assets abroad after taking massive impairments.
Indian CEOs might like to make some serious course correction.
Several high profile companies are burdened with losses, mounting debt and have a huge load of operational costs.
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