Bharti Airtel | GlobalPost

India's Bharti to sell 5% stake to Qatar investor

Agence France-PresseMay 3, 2013 01:30

India's biggest telecoms company Bharti Airtel said Friday it would sell new shares equivalent to a 5.0-percent stake in itself to a Qatar-based investor for $1.26 billion. The investment, Bharti said, will "further strengthen its capital structure and provide further flexibility to the company to deliver on its growth strategy". As part of the agreement, Bharti will issue 199.8 million new shares at 340 rupees ($6.2) per share, which investor Qatar Foundation Endowment (QFE) will acquire, the Indian firm said in a statement.

Bharti Airtel to buy Alcatel-Lucent stake in India tie-up

Agence France-PresseFebruary 5, 2013 07:31

Bharti Airtel, India's biggest mobile phone firm, said Tuesday it will buyout Alcatel-Lucent's stake in a joint venture which manages Bharti's fixed-line and broadband networks in the country. Bharti Airtel and the local unit of telecoms equipment maker Alcatel-Lucent had formed the 26:74 joint venture, Alcatel-Lucent Managed Network Service India, in 2009. The five-year network contract, which was worth about $500 million, ends in April 2014.

India's Bharti quarterly profit dives, misses estimate

Agence France-PresseFebruary 1, 2013 13:46

India's top telecoms company Bharti Airtel reported Friday that its net quarterly profit plunged by an unexpected 72 percent in the three months to December, hit by punishing competition and soaring interest charges. The profit drop to 2.84 billion rupees ($53 million) marked the phone giant's 12th straight quarterly fall and was well wide of analysts' forecasts of an eight billion rupee profit. "Market conditions have been challenging in recent quarters due to pricing pressures and rising input costs," Bharti's billionaire founder and chairman Sunil Bharti Mittal said.

India's Bharti quarterly profit dives, misses estimate

Agence France-PresseFebruary 1, 2013 06:30

Bharti Airtel, India's top mobile company, reported on Friday its net quarterly profit plunged by an unexpected 72 percent, hit by punishing price competition and a surge in interest charges. The profit drop to 2.84 billion rupees in the three months to December marked the telecom giant's 12th straight quarterly fall and far undershot analysts' forecasts of an eight-billion-rupee profit. "Market conditions have been challenging in recent quarters due to pricing pressures and rising input costs," Bharti's billionaire founder and chairman Sunil Bharti Mittal said.

India's Bharti quarterly profit dives, misses estimate

Agence France-PresseFebruary 1, 2013 03:00

Bharti Airtel, India's top mobile phone company, said Friday that quarterly profit has slid more than 70 percent due to "challenging" conditions in a competitive market, falling far short of market estimates. The drop in the three months to December marked the telecom company's 12th straight quarterly fall and was far below the consensus market expectations of an eight-billion-rupee profit rise.