Bharti to buy out Alcatel Lucent stake in JV
Related
Top Stories
As part of a new business model to manage fixed line and broadband networks, Bharti Airtel has announced to buy the entire shareholding of Alcatel Lucent India in Alcatel Lucent Managed Network Service India — a joint venture between Bharti and Alcatel Lucent India Ltd.
In a statement, Bharti said it was introducing a new business model for managing fixed line and DSL broadband networks, on the lines of Indus Towers. Bharti Airtel subsidiary Bharti Infratel holds 42 per cent stake in Indus Towers, with the remaining stakes in the company with Vodafone (42%) and Idea (16%).
"Bharti pioneered the outsourcing model that helped revolutionize the telecom industry and with this innovative model we are breaking new ground in an industry, which is on the cusp of a massive data growth," Airtel CEO (India & South Asia) Sanjay Kapoor was quoted in the paper.
The entity would operate independent of Bharti. Going forward, the entity would invite other operators to join in with equity participation and bring the management of their broadband and fixed line networks under its fold.
Shishir Kumar, currently the Bharti Airtel's CEO (Upper North) has been appointed as the CEO of the entity.
Financial details of the deal were not disclosed.
PM: Govt initiating more measures to attract investments
Cautious RBI cuts repo by 25 bps, says little space for more easing
‘Govt mulling stronger laws to block Ponzi schemes’
Unilever plans to spend up to $5.4 bn to ramp up stake in HULEditors’ Pick
- Destitute, orphan students outclass rest in Andhra Class 10 exams
- To re-energise ties, PM wants to visit US, waits for confirmation
- NIA court says no terror link, frees 'Hizbul militant' Liyaqat on bail
- CBI arrests its coal allotments investigator on bribery charge
- ‘Cricketer-bookie Amit may have used Jiju to reach Sree’
- BCCI chief N Srinivasan says police must prove spot-fixing allegations
- As it all sinks in, Sreesanth breaks down in tears, 'accepts mistake'
