MTN-Bharti Airtel deal called offSeptember 30th, 2009 MUMBAI - Talks over a proposed partnership between Bharti Airtel and South Africa's MTN have been called off, with Bharti Airtel saying that the South African government is not ready to "accept the deal in its current form."
In a statement issued on Wednesday, Bharti Airtel said that it says it hopes government will "review its position in future". MTN says: "Information has been released in India by Bharti Airtel Limited relating to the potential transaction between MTN and Bharti.
Bharti stock down 3 percent as MTN deal gets costlierSeptember 22nd, 2009 MUMBAI - The scrip of telecom major Bharti Airtel fell about 3 percent on the Bombay Stock Exchange (BSE) on reports that the company may have to further sweeten its offer for South African telcom company MTN. According to reports, Bharti has offered MTN a 27 percent of its stake for the same money instead of the 25 percent proposed earlier.
Bharti stock down 3.28 percent as MTN deal gets costlierSeptember 22nd, 2009 MUMBAI - The scrip of telecom major Bharti Airtel fell 3.28 percent on the Bombay Stock Exchange (BSE) at end of trade Tuesday following reports that the company may have to sweeten its offer for South African telecom company MTN. According to reports, Bharti has offered MTN a 27 percent of its stake for the same money instead of the 25 percent proposed earlier.
Bharti, South Africa's MTN extend pact talks to Sep 30August 20th, 2009 MUMBAI - Bharti Airtel and South Africa's MTN Thursday said they were extending their talks for a proposed $23-billion financial alliance till Sep 30, with no final pact in sight even as the revised deadline of Aug 31 approaches. "Discussions between the parties regarding the potential transaction continue to progress satisfactorily and the parties have accordingly agreed to extend the exclusivity period until September 30, 2009," Bharti Airtel said in a regulatory statement to the Bombay Stock Exchange (BSE).
Bharti Airtel Lanka crosses one million customer-markJuly 28th, 2009 COLOMBO - Bharti Airtel Lanka, a subsidiary of India's telecom major Bharti Airtel, Tuesday said it has crossed the one million customer-mark in Sri Lanka. The company has achieved this milestone within six months of the launch of its services in the island country.
Airtel still in talks with South Africa's MTNJuly 23rd, 2009 NEW DELHI - India's leading telecom operator Bharti Airtel is still in talks with South African telecom giant MTN for a possible merger, a top official said Thursday. "Talks are going on between Bharti Enterprises, the parent of Bharti Airtel, and South Africa's MTN Group to form a global business combination," Akhil Gupta, managing director of Bharti Enterprises, told reporters.
Bharti net profit up 22 percent in first quarterJuly 23rd, 2009 MUMBAI - Beating forecasts by analysts, telecom major Bharti Airtel posted a 22.2 percent increase in net profit for the first quarter of 2009-10 at Rs.2,647.95 crore (Rs.26.48 billion / $547 million). The company's total income during the period under review rose 22 percent to Rs.10,448.69 crore from Rs.8,567.8 crore in the same period a year ago, it said in a regulatory statement.
Bharti Axa plans to strengthen branches, expand businessJune 5th, 2009 CHENNAI - The promoters of private life insurer Bharti Axa Life Insurance will infuse Rs.100 crore in the next quarter to strengthen the company's branches and expand business so that it can break even by 2012-13, a top official said here Friday. Bharti group and French group Axa are the promoters of the Rs.360-crore company.
We intend to close MTN deal this time: BhartiMay 30th, 2009 AMRITSAR - The Bharti group Saturday expressed confidence that it will seal the proposed $23-billion deal with South African telecom giant MTN, after restarting negotiations that had collapsed last year. The two groups are discussing options under which Bharti will acquire 49-percent stake in MTN and the South African company, along with its shareholders, will buy 36-percent equity in the Indian company, the two firms had announced May 25.
Bharti, South African telecom firm resume talks to swap stakesMay 25th, 2009 NEW DELHI - India's Bharti Airtel and South African telecom giant MTN have resumed talks to hold stakes in each other's companies, restarting the negotiations that had collapsed last year. Thr two groups are discussing options under which Bharti will acquire 49-percent stake in MTN and the South African company will buy 36-percent stake in the Indian company, the two firms announced Monday.
India's Bharti Airtel says quarterly profit rose 21 percent on subscriber growthApril 29th, 2009 India's Bharti Airtel says quarterly profit roseMUMBAI, India — Bharti Airtel Ltd., India's largest mobile telephone company, said Wednesday that record subscriber growth fueled a 21 percent rise in quarterly profit, despite increasing competition in India's booming mobile phone market. Net profit for the January-March quarter rose to 22.39 billion rupees ($459 million), while sales grew 26 percent to 98.25 billion rupees ($2.01 billion).
Airtel net profit up nearly 8 percentApril 29th, 2009 NEW DELHI - Telecom major Bharti Airtel's net profit for the quarter ended March 31 rose nearly 8 percent to Rs.20.48 billion, as compared to Rs.18.99 billion in the same period the previous year. Total income too increased about 30 percent to Rs.102.96 billion from Rs.79.29 billion in the period under review, the company said Wednesday.
India's Bharti Airtel says quarterly profit up 21 percent on subscriber growthApril 29th, 2009 Bharti Airtel says quarterly profit up 21 pctMUMBAI, India — Bharti Airtel Ltd., India's largest mobile telephone company, said Wednesday that record subscriber growth fueled a 21 percent rise in quarterly profit. Net profit for the January-March quarter rose 21 percent from the same period last year to 22.39 billion rupees ($459 million).
Bharti Airtel posts 30 percent increase in Q3 profitJanuary 21st, 2009 NEW DELHI - Bharti Airtel Ltd. Thursday reported a 30 percent increase in its cash profits to Rs.37.55 billion ($767 million) in the third quarter ended Dec 31.
Bharti Airtel plans $3.5 bn capital expenditure for 2009-10January 21st, 2009 NEW DELHI - Telecom major Bharti Airtel has earmarked around $3.5 billion as capital expenditure (capex) for mobile services and infrastructure business for the next financial year, a top official said here Thursday. 'About $2.5 billion have been earmarked as capex for mobile services and approximately $1 billion for the passive infrastructure,' Bharti Group deputy chief executive Akhil Gupta said.
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