Thursday, 27 November 2014

Bharti Airtel launches 4G service in Africa

According to the reort, Bharti Airtel launches 4G service under the first commercial LTE network in Seychelles, Africa.

The company said the network is expected to cover 10,000 LTE subscribers in the first phase.

The company already has Africa's widest 3G footprint, being present in 17 countries and is now to provide leadership in setting the technology standard for 4G services in Africa by rolling out this cutting edge LTE network, Airtel Africa CEO Christian de Faria reportedly said.

Bharti Airtel remains weaker

Bharti Airtel continues to trade on a weak note after the Nigeria's central bank devalued its currency Naira by 8 per cent and raised interest rates sharply on Tuesday.

Nigeria is the biggest export market in the Africa, which contributes 30 per cent customer revenues of Bharti Airtel.

In the process, the stock has tumbled 4.7 per cent in the last two trading sessions.

Now, the stock is down 1.7 per cent at Rs. 387. So far, the stock has touched an intra-day low at Rs. 385 - down 2 per cent from its previous close.

The BSE counter has registered trades of around 112,000 shares, against its two-week daily average volume of 277,000 shares.

Meanwhile, the BSE Sensex is down four points at 28,390.

Tuesday, 25 November 2014

Bharti Airtel spurts on tower deal

Bharti Airtel spurted to a high of Rs 406 in opening trades after the company in its bid to reduce debt signed a deal to sell 4,800-plus telecom towers in Nigeria.

According to reports, American Tower Corporation will buy the assets for $ 1.05 billion. The deal will reduce Bharti's debt by Rs 6,463 crore.

The stock is now up 2 per cent at Rs 406, and around 9,900 shares have changed hands in early deals on the BSE.

Meanwhile, the BSE Sensex touched a high at 28,541, and is now down five points at 28,494.

Bharti Airtel gains after tower sale pact with American Tower Corp

The announcement was made after market hours on Monday, 24 November 2014.
Meanwhile, the S&P BSE Sensex was down 10.76 points or 0.04% at 28,488.78.
On BSE, so far 18,000 shares were traded in the counter as against average daily volume of 2.62 lakh shares in the past two weeks.
The stock hit a high of Rs 408.20 and a low of Rs 404.20 so far during the day.
Bharti Airtel said that it has entered into a definitive agreement with American Tower Corporation (AmericanTower) through Bharti Airtel's subsidiary company, Bharti Airtel International (Netherlands) BV (Airtel), for the sale of over 4,800 of Airtel's communications towers in Nigeria. Airtel will be the anchor tenant on the portfolio under a lease with a ten-year initial term.
The agreement will allow Airtel to focus on its core business and customers, enable it to deleverage through debt reduction and will significantly reduce its on-going capital expenditures on passive infrastructure in Nigeria, the Indian company said in a statement. American Tower and Airtel expect to close the acquisition during the first half of 2015, subject to customary closing conditions and regulatory approval, Bharti Airtel said.
American Tower is a leading independent owner, operator, and developer of wireless and broadcast communications real estate with a global portfolio of approximately 70,000 communications sites.
On consolidated basis, Bharti Airtel's net profit spurted 170.2% to Rs 1383.20 crore on 7.1% growth in net sales to Rs 22845.20 crore in Q2 September 2014 over Q2 September 2013.
Bharti Airtel is a leading global telecommunications company with operations in 20 countries across Asia and Africa.

Bharti Airtel sells 4,800 towers in Nigeria

American Tower Corporation and Bharti Airtel Limited announced that they have entered into a definitive agreement,through Bharti Airtel Limited's subsidiary company, Bharti Airtel International(Netherlands) BV (Airtel), for the sale of over 4,800 of Airtel's communications towers in Nigeria. Airtel will be the anchor tenant on the portfolio under a lease with a ten-yearinitialterm.
The agreement will allow Airtel to focus on its core business and customers, enable it to de leverage through debt reduction and will significantly reduce its on-going capital expenditures on passive infrastructure in Nigeria. American Tower and Airtel expect to close the acquisition during the first half of 2015,subjectto customary closing conditions and regulatory approval.

Monday, 24 November 2014

Bharti Airtel to sell 4,800 communications towers

Bharti Airtel announced that the Company and American Tower Corporation (American Tower) have entered into a definitive agreement, through Bharti Airtel's subsidiary company, Bharti Airtel International (Netherlands) BV (Airtel), for the sale of over 4,800 of Airtel's communications towers in Nigeria. Airtel will be the anchor tenant on the portfolio under a lease with a ten year initial term.

Friday, 14 November 2014

Bharti Airtel spurts after block deal

Bharti Airtel suddenly surged in the late morning trade, after 9.7 lakh shares changed hands at the counter on the NSE today.

The counter on the NSE witnessed a block deal of 9.7 lakh shares of Bharti Airtel at Rs 401.

The stock so far has jumped to a high of Rs 403, and is now up 2.3 per cent at Rs 401. The counter has seen trades of around 32,53,403 shares on the NSE.

Meanwhile, the NSE Sensex has pared most of the gains, but still up 22 points at 28,200.