Transaction to cost around Rs 12,900 crore; family currently owns 24.13% stake in Airtel
Says this is a first in his over 30 years of first-hand experience with Department of Telecommunications
Bharti Airtel received spectrum allocation letter within few hours of making upfront payment to the Department of Telecom, Bharti Enterprises founder and chairman Sunil Bharti Mittal said on Thursday. This is the first time ever that the Department of Telecom (DoT) has handed out a spectrum allocation letter on the day of making upfront payment. "Airtel paid Rs 8,312.4 crore towards spectrum dues and was provided the allocation letter for the designated frequency bands within hours. E band allocation was given along with spectrum as promised. No Fuss, No Follow Up, No running around the corridors and No tall claims. This is ease of doing business at work in its full glory," Mittal said in a statement. The Department of Telecom has received payment of around Rs 17,876 crore from service providers -- Bharti Airtel, Reliance Jio, Adani Data Networks and Vodafone Idea for spectrum they won in a recent auction. While all telecom operators have opted to make payments in 20 annual ...
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Bharti Airtel chairman Mittal's remuneration fell nearly five per cent in the financial year 2021-22 to Rs 15.39 crore on lower perquisite value, according to the telecom company's annual report
Bharti Airtel Chairman Sunil Mittal has said that the company will be at the forefront of bringing 5G connectivity to India with a powerful network to support the country's digital-first economy
The telecom department's upcoming auction includes the coveted 5G band needed for high-speed internet connectivity
Airtel reported nearly a three-fold year-on-year increase in its net profit to Rs 2,008 crore in the fourth quarter of FY22
As per a media report, Mittals are in talks with some major banks like BNP Paribas, Bank of America, Citibank, JPMorgan, and Standard Chartered to raise over $2 billion
Singtel's effective stake in Bharti Airtel is 31.7 per cent. It holds a 49.44 per cent stake in Mittal family owned firm Bharti Telecom
Company's digital revenue should be more than a billion dollars in the next few years, says group chairman
"My professionals will not send me anything that will compromise the company's governance. I will never ask anything of them which will compromise our governance," Mittal said
He was speaking at a panel discussion on technology cooperation in the fourth industrial revolution at the World Economic Forum's online Davos Agenda 2022 summit
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Citing the reforms package announced by the government recently, Mittal said it was "lapped up" by the markets and stakeholders of the industry
Speaking at the Bloomberg New Economy Forum in Singapore, Mittal said he would fly back to Delhi that is "covered in smog."
"Remote work is the norm at the moment," Mittal said. "My own view is one year from now this poll would show a reduced percentage on remote work, and the green economy will get even more momentum."
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It is learnt that the letter of acceptance was sent by the company to the department of telecommunications (DoT) last week
Mittal says OneWeb would be the first private player to launch satellites from India through Isro facilities