Bharti Airtel will consider opportunities to buy another firm in India, given there is a clear merger & acquisition (M&A) policy in place, Bharti Group Chairman Sunil Mittal said.
Mr. Mittal also said that nobody in the country is capable of buying Airtel, the country's largest telecommunications firm.
Bharti Group has no intention to buy back nearly 4 per cent stake that British communications giant Vodafone owns in Airtel, the group's chairman Sunil Mittal said.
Vodafone owns 4.4 per cent stake indirectly in Bharti Airtel, which the British company will have to sell to meet the government's new norms that prohibits a telecom firm from holding any stake in a rival firm under Unified Licences.
New Delhi, July 8 : A Delhi court Monday put off till July 31 the hearing on a 2G case in which Bharti Airtel chief Sunil Mittal and Essar Group promoter Ravi Ruia were summoned.
Central Bureau of Investigation (CBI) Special Judge O. P. Saini adjourned the case till July 31 after lawyers appearing for Mittal and Ruia informed the court that the matter was pending in the Supreme Court.
The Supreme Court in its interim order April 26 postponed the trial court proceedings till further orders and exempted Mittal and Ruia from personal appearance, the lawyers submitted.
New Delhi, April 26 : The Supreme Court Monday issued notice to the CBI on a plea by Sunil Mittal of Bharti Airtel and Ravikant Ruia of Essar challenging their summoning before the 2G special court in the spectrum allocation scam of 2002.
The apex court bench, headed by Chief Justice Altamas Kabir, while issuing the notice, asked the Central Bureau of Investigation (CBI) to file its response in four weeks and gave another three weeks to Mital and Ruia to file their rejoinder.
The court said the proceedings before the trial court in this matter would remain deferred till then.
New Delhi, April 18 : Supreme Court's Justice Anil R. Dave Thursday recused himself from the hearing on pleas of Bharti Airtel' Sunil Mittal and Essar Group's Ravi Ruia who have challenged the summons issued to them by the 2G case trial court.
Another apex court judge had withdrawn from the hearing April 15.
As the apex court bench of Chief Justice Altamas Kabir and Justice Anil R. Dave took up the matter for hearing, Chief Justice Kabir said that no order could be passed as Justice Dave had recused himself from hearing the matter.
New Delhi, April 16 : Bharti Airtel chief Sunil Mittal and Essar Group promoter Ravi Ruia Tuesday appeared before a Delhi court following summons issued to them in a case relating to alleged irregularities in the allocation of 2G spectrum.
Both furnished separate personal bonds following a Supreme Court order. Accepting the bonds, Central Bureau of Investigation Special Court Judge O. P. Saini adjourned the proceedings till April 22.
New Delhi, April 8 : The Supreme Court Monday offered partial relief to Bharti Airtel CMD Sunil Mittal by directing the 2G case trial court to put off hearing against him till April 16.
The court said it would examine April 15 whether Mittal could be named by the Central Bureau of Investigation (CBI) as an accused in the case and if the trial court here could summon him to appear before it.
The apex court bench of Chief Justice Altamas Kabir and Justice Vikramajit Sen asked the CBI to file an affidavit giving details of the material in their possession pointing to Mittal's involvement in the case.
New Delhi, April 2 : The Supreme Court will April 8 hear the plea of Bharti Airtel CMD Sunil Mittal challenging the order of a special Delhi court summoning him in the 2G case.
The apex court bench of Chief Justice Altamas Kabir, Justice Anil R. Dave and Justice Vikramajit Sen directed the listing of the matter April 8 after senior counsel Harish Salve mentioned it and sought an early hearing of the plea.
Central Bureau of Investigation Special Judge O. P. Saini March 19 summoned Mittal to appear before it April 11 in connection with alleged excess spectrum allocation to telecom companies in 2002.(IANS)
Sunil Mittal, the head of telecommunication giant Bharti, has said that the the copany knew that the institutional investors and especially those from abroad would be strong supporters of the Initial Public Offering of Bharti Infratel.
“We had a reasonably good visibility of the pipeline of the book there and we are close to 3 times the quota that we had kept for the qualified investors, and that has happened. We are very pleased with that,” he said.
Sunil Mittal-led Bharti Infratel Ltd is expected to pocket nearly Rs 4,530 crore from its newly announced initial public offer (IPO), for which the company has set a price band of Rs 210 to Rs 240 per share.
Bharti Infratel will offload its 10 per cent share, or sell 188.9 million shares, through the IPO. For retail investors, the issue will be launched on 11th of December and close on 14th of the same month. For anchor investors, it will be launched a day earlier - 10th of December.
Aircel and Reliance Communications (RCOM) have accused billionaire Sunil Mittal-promoted Bharti Airtel of abusing its dominant position.
Aircel and RCOM have alleged that Airtel has resorted to pressure tactics just days before the festival of Diwali to compel them to pay more towards SMS termination fees.
Airtel has asked its rival operators to sign an interconnect agreement, which asks rival operators to pay 10 paise per SMS sent by a non-Airtel customer.
Bharti Airtel Chairman Sunil Mittal has sad that the continuing uncertainties in the regulatory environment will impact the future of telecom sector and will impact the country's global competiveness.
"The recent regulatory developments in India will have significant implications on the future of telephony and broadband, as well as India's global competitiveness," He said while announcing het company's quarterly results.
The department of telecommunication held a pre-bid conference on Monday for starting the much waited 3G spectrum and WiMAX allocation process which is expected to begin in mid-January. The officials of Dot answered all queries of private players in the meet and assured smooth allocation of frequencies to the bidders. The department also cleared position of frequencies available in each telecom circle.
Telecom payers have to wait up to 8 December when the department would release frequency slots and sub band available in each circle.
New Delhi, Feb 29 : Finance Minister P Chidambaran has presented a comprehensive, balanced and growth-oriented budget, said Sunil Mittal, President of Confederation of Indian Industries.
The Finance Minister has managed to address the triple challenge of growth inclusiveness and sustainability very astutely, Mittal said. The budget proposals would go along way in building people and building India, he added.
Barcelona (Spain), Feb. 13 : Confederation of Indian Industry President and Bharti Group Chairman and CEO, Sunil Mittal, today predicted that new players entering the telecom sector would not last more than three years.
Addressing the GSM Mobile Congress here, Mittal said new firms needed at least a year to build their network and at least two years to after that to attempt to survive in a highly competitive environment.