A UK government consortium led by India’s Bharti Enterprises has bagged a cutting satellite technology company with an eye on a joint telecom revolution and universal connectivity.
Indian telecom operator Bharti Airtel Ltd reported its highest-ever quarterly consolidated revenue on Tuesday, helped by higher tariffs and additions to its 4G subscriber base.
The three-year partnership aims to transform existing operations with new capabilities introduced through Ericsson Operations Engine.
Airtel BlueJeans will offer a cloud point presence in India enabling low latency and improved quality of service for the business customers in India.
Airtel’s data centre business Nxtra will use the proceeds to continue to scale up its infrastructure and offerings across the country.
Lattu Kids becomes the fourth company to join Airtel accelerator programme, which allows start-ups to leverage Airtel’s robust ecosystem.
Following the acquisition, Bharti Airtel’s stake in Robi Axiata increased to 31.3 per cent from 25 per cent.
Airtel’s promoters may sell nearly 15 million shares as part of the block deal. Bharti Telecom, the promoter group of Bharti Airtel, will sell up to 2.75 per cent stake in the telco to raise around $1 billion through a block deal to become a zero-debt company. The company is reportedly selling 150 million Airtel shares at a floor price of $7.37 each. The deal is likely to be at a 6 per cent discount to the company’s stock price. [...]