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| Bharti Airtel crosses 100 mn customers |
| BS Reporter / New Delhi May 16, 2009, 00:51 IST |
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Bharti Airtel, India’s largest telecom operator, announced today that it had got more than 100 million customers, making it the third-largest telecom company in the world, in terms of in-country subscribers.
“It took us 15 years to get our first 100 million subscribers,” said Sunil Bharti Mittal, Chairman and Group CEO,”but we are looking at acquiring our next 100 million customers in India within the next three years.”
Mittal also hinted at an ambitious global strategy. It would include global acquisitions of telecom companies, especially after its aborted attempt to buy South African telco, MTN.
He said that while Akhil Gupta, Joint Managing Director & Group Director - Strategy & Business Development, would look at gwtting the next 100 million in the domestic space, he would himself be concentrating on acquiring the 100 million customers internationally.
However, Mittal did not rule out the possibility of acquisitions in the Indian market. “There will be consolidation in the Indian telecom market. We are already in (all) 22 circles, so if we look at an acquisition, it will be due to the financial value it gives us and not the brand value. The mergers and acquisition guidelines in this sector are still being finalised, so when an opportunity comes along we, will evaluate it. But there is nothing on the table as of now,” added Mittal.
On possibilities of selling more stake to foreign partners, especially after it has been made possible by the new foreign direct investment policy, Mittal said, “Even though the new FDI norms do give us the head room to grow, the company does not have any plans to sell more stake.”
However its partner, Singtel, was open to the idea of picking up more equity. Said Chumpol NaLamlieng, chairman, Singapore Telecommunications Ltd, which owns 30 per cent stake in Bharti Airtel: “ We already have a substantial stake and we are very happy with that and today we have no plans to raise that.” However, if an opportunity comes along, he said, “We will look at it, along with our partners.”
Bharti Airtel enjoys 25 per cent subscriber share and 30 per cent market share in terms of revenue, nationally.
Commenting on its competition with Vodafone Essar, the Indian arm of the global telecom major, Vodafone, Mittal said, “Their transition from Hutch to Vodafone has been done very well. The Hutch team in terms of competition was very fierce. They are still stuck in the quarter-finals and semi-finals, as they wish to close the gap between us.” Vodafone-Essar has 71.5 million subscribers in India.
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