Friday, 28 March 2014

Bharti Telecom buys Airtel's shares for Rs 172 cr, hikes stake

Telecom major, Bharti Airtel today said one of its promoter group entity Bharti Telecom has bought 57.14 lakh shares of the company for Rs 171.92 crore through various market transactions. Bharti Telecom stake in the company has been now been raised to 43.72 per cent, the company said in a BSE filing. Bharti Telecom bought 13.04 lakh shares for Rs 38.18 crore at NSE and 54,000 shares for Rs 1.58 crore at BSE on March 25, thus raising the stake marginally from 43.57 per cent to 43.61 per cent, the filing said. Additionally Bharti Telecom purchased 22.71 lakh shares for Rs 67.53 crore at NSE and 1.34 lakh shares for Rs 3.99 crore at BSE on March 26, which led its stake to increase to 43.67 per cent. Besides on March 27, the promoter group entity bought 17.50 lakh scrips for Rs 54.41 crore at NSE and 2 lakh shares for Rs 6.2 crore at BSE, further raising the stake to 43.72 per cent, it added.

Thursday, 13 March 2014

Bharti Airtel - Bharti Airtel announces successful pricing of CHF bond issue

Bharti Airtel Ltd has informed BSE that Bharti Airtel International (Netherlands) BV, a wholly owned subsidiary of Bharti Airtel Limited has completed the pricing of CHF bond issue.

In this regard, the Company has submitted to BSE a copy of Press Release dated March 13, 2014, titled "Bharti Airtel announces successful pricing of CHF bond issue"

Bharti Airtel appoints Dinesh Kumar Mittal as new Independent Director

Telecom major, Bharti Airtel today said that it has appointed Dinesh Kumar Mittal as a new Independent Director. “Dinesh Kumar Mittal appointed as new Additional Director in the category of Independent Director with effect from March 13, 2014,” the company said in the filing to the Bombay Stock Exchange. Dinesh Kumar Mittal has replaced Nikesh Arora who resigned from the position of Independent Director.

Bharti Airtel - Reconstitution of the Board

Bharti Airtel Ltd has informed BSE that the following changes have taken place in the Board of Directors of the Company w.e.f. March 13, 2014: 

1. Resignation by Mr. Nikesh Arora. 

2. Appointment of Mr. Dinesh Kumar Mittal as an Additional Director in the category of Independent Director.

Tuesday, 4 March 2014

Etisalat, Bharti Airtel partner for telecom network infrastructure

Etisalat and Bharti Airtel have entered into a partnership to set up a multi-service regional network infrastructure node in the region, reported PTI. It includes Airtel's MPLS (Multiprotocol Label Switching) services supported by its global network which will allow Airtel to provide advanced data and wholesale services to its customers in the Middle East and Africa. It will also provide a platform to Etisalat to reach out to key global business hubs such as Africa and India, said the media report. "We are proud that Bharti Airtel, a longtime Etisalat partner has chosen SmartHub. The facility will offer Airtel an array of regional connectivity options both in and out of the region. "This partnership will also enable direct routing of traffic between the Middle East and Africa, Asia and Europe," said Ali Amiri, Executive Vice President (Carrier & Wholesale) Etisalat. Etisalat's Smarthub is the largest capacity, content, internet and data hub in the Middle East. Smarthub provides regional access for global service providers and global access to the region. "With a commitment to provide best-in-class services to all its customers and strong focus on emerging markets, Bharti Airtel has made significant investments in creating a globe spanning network infrastructure. "The collaboration with Etisalat will further help us to cater to the growing bandwidth demands of our enterprise and carrier customers in the region," said Ajay Chitkara, CEO (Global Business), Bharti Airtel.

Bharti Airtel - Media Statement

Bharti Airtel Ltd has informed BSE about the following media statement being issued by the Company:

"Airtel Networks Kenya Limited ("Airtel Kenya") has sought an approval from the Communications Authority of Kenya (CAK), to acquire the telecommunications licenses and subscribers of Essar Telecom Kenya Limited, which operates under the brand name `yuMobile.

The proposed arrangement envisages over 2.7 million customers of Essar Telecom Kenya becoming part of Airtel Kenyas mobile network. The proposed association will undergo seamless integration once definitive agreements are signed, and requisite regulatory and statutory approvals are received."

Friday, 21 February 2014

Bharti Airtel to move to Apex Court of Nigeria against Court of Appeals order on Econet

Bharti Airtel has said that it will move the Supreme Court of Nigeria against a decision of the Court of Appeals in Lagos in a longstanding dispute with Econet Wireless over the ownership of the India telecom major's Nigerian unit, reported PTI.
Bharti Airtel is not satisfied with the ruling of the Court of Appeal and will lodge an appeal against that decision, it said in a statement. The ruling has no impact on the equity holding of Bharti Airtel or of the other shareholders in Airtel Nigeria, it added.
According to media reports, the Court of Appeals in Lagos on Monday ruled that an International Tribunal had acted properly while ordering that the sale of a 65 per cent stake in the Nigerian business unit by Celtel Nigeria to Zain of Kuwait was null and void, as it did not follow proper procedures, like offering Econet Wireless the first right of refusal since it was a shareholder. Bharti bought the Nigeria business of Zain in 2010 and inherited a legal battle which has been on since 2006 related to the Celtel-Zain deal.
While media reports said Econet would claim damages of more than USD 3 billion, Bharti said neither the Court of Appeals nor a court in Kaduna, which was dealing with a separate case, had determined any quantum of damages