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4/01/2010

Bharti Chief thanks SingTel

Bharti Chief thanks partners after signing Zain Africa deal On 03.31.10, In Mobile, By Editor . www.WirelessFederation.com/news: With the consummation of the US$10.7 billion deal with Zain Africa, Bharti Airtel chief Sunil Mittal extended his gratitude to its partner Sing Tel for providing its much needed support. As a co-promoter, SingTel holds 31 per cent stake in India-listed Bharti Airtel and therefore its support is critical to any major M&A deal by the company. According to Bharti Airtel Chairman and Managing Director Sunil Mittal who signed the deal in Amsterdam, the extremely tight time lines and the enormity of the task posed a real challenge. Bharti was able to achieve this important milestone through much hard work and support from SingTel and the external advisors. SingTel owns 31% of Bharti Airtel, can I assume it pumped in $3.2b or there about? I hope the thank you means we will bring in the profit and not a one way thing. Thanks for the contribution.

5 comments:

Wally Buffet said...

Can one own shares without pumping in money?

If I were Singtel, maybe I will suggest to Bharti for a share swap eh?

Anonymous said...

Rest assured that our state investors will reap handsome rewards befitting their talents !

Matilah_Singapura said...

I have a feeling SunkTel is going to score on this one.

Give credit if credit is due lah. But let's see if this telco can make sustainable free cash flo.. rivers of dirty, sexy cash.

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