InfoAnda - India's Bharti profits jump 24 pct, still in MTN merger talks

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Iraq rivals seal power-sharing deal | 11 November 2010
Israel charges Russian-born tycoon with fraud | 2 October 2009
Sit-tight rulers risk African Spring: Nobel Laureate Soyinka | | 2 February 2012

Bomb kills troops in Pakistan's Swat: officials | 28 May 2009

Forum Views () Forum Replies ()

Read more with google mobile : India's Bharti profits jump 24 pct, still in MTN merger talks

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: India's Bharti profits jump 24 pct, still in MTN merger talks AFP - Friday, July 24 NEW DELHI (AFP) - - India's top mobile company, Bharti Airtel, reported Thursday that first-quarter net profit jumped 24 percent and said it was still in merger talks with South Africa's flagship MTN cellular group. ADVERTISEMENT Bharti said net profit for the three months to June 30 rose to 25.17 billion rupees (526 million dollars) on revenues which jumped 17 percent to 99.42 billion, helped by strong subscriber growth especially in rural areas. "This good performance validates our rural thrust and investments in the past three years," said Bharti Airtel chairman Sunil Bharti Mittal. The profit growth was in line with analysts' forecasts but slowed from previous quarters in what the company called a "hyper-competitive environment." A decline in average revenue per user -- a key industry measure of profitability -- also fuelled investor concern that Bharti's profitability was increasingly dependent on lower spending customers in rural areas. Bharti shares closed down 1.09 percent or 8.95 rupees at 813.90 rupees. Bharti would not elaborate on its merger talks with MTN that the two firms say would create an "emerging market telecom powerhouse" with more than 200 million subscribers and 20 billion dollars annually in revenues. "We are still in talks -- that is all I can say," Akhil Gupta, deputy chief executive officer of parent company Bharti Enterprises, told reporters. The two companies have said they will hold exclusive negotiations until July 31 for the cross-shareholding pact that would involve 10 billion dollars in cash and 13 billion dollars in stock. Bharti, in which Singapore Telecommunications has a minority holding, would be the single largest shareholder, taking a 49 percent stake in the South African company. MTN would have an effective 36 percent stake in Bharti. Analysts said they believed the two companies might extend the exclusive talks but were cautiously optimistic about an agreement. The managements of the two firms must "agree to the price and structure and everything. The exclusive period of negotiations may be extended," said Sanjay Chawla, senior vice president of investment house Anand Rathi. But he told AFP "there could be an eventual deal." Bharti hung up on talks a year ago with MTN after the South African firm proposed an ownership structure that the Indian company said would have involved "Bharti Airtel becoming a subsidiary of MTN." This time "they seem to be treading cautiously and very carefully to make sure every issue is ironed out," said Angel Broking analyst Harit Shah. "My gut feeling is it will probably go through." But some analysts said Bharti might have to sweeten its bid to win MTN shareholder approval. The talks are part of Bharti's drive to keep up its growth momentum along with its rapid push into rural India, home to 70 percent of the nearly 1.2 billion population. Bharti posted 48 percent year-on-year growth in mobile customers to hit 102.37 million subscribers, making it one of the world's leading cellular providers. About 60 percent of additional customers in the first quarter came from rural areas, the company said. The company is now "primarily focused" on moving into the rural market, said Bharti Airtel chief executive officer Manoj Kohli, adding rural mobile penetration was still just around 10 percent. "There's no other way to grow except rurally as the urban centres are getting saturated," said Angel's Shah. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Related Articles: Business Porsche families to fund bulk of cap hike - sourcesReuters - Friday, July 24 S.Korean bonds fall on global index, U.S. leadReuters - Thursday, July 23 Japan Hot Stocks-Fujitsu, Tocalco, KDDI, Sumco, InpexReuters - Thursday, July 23 Nikkei at 3-week high as weak yen boosts exportersReuters - Thursday, July 23 Glimmer of hope in EBay marketplace sends shares upReuters - Thursday, July 23 Enlarge Photo India's Bharti profits jump 24 pct, still in MTN merger talks Most Popular – Business Viewed Police raid Jackson doctor for manslaughter link Lost love letter reunites couple after 16 years Massive quake moves NZealand closer to Australia 'I'm not a saint': Italy's Berlusconi Schwarzenegger defends knife-wielding Twitter video View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Friday, 24 July 2009
US home sales rise again
US 'fully' supports Georgia's bid to join NATO
Ford posts profit on one-time items
US backs Georgia, but wants more democracy: Biden
Schwarzenegger addresses budget cuts with knife
Pa. fire chief reunited by chance with lost dog
Spy 'regretted working for Soviets'
New undersea cable gives Africa high-speed Internet
Netanyahu says he seeks peace with Palestinians | International |
Wildfire on outskirts of Marseille 'under control'
Congo rebel attack kills at least 24: U.N | International |
Clashes kill 46 in Somalia, new security boss named | International |
Judge rules to continue Mumbai gunman's trial
Microsoft revenue misses, shares tumble | Technology |
Pakistan Taliban says Swat chief alive, vows jihad
Iron Man multi-tasks at annual comic convention | Technology |
SKorean soldier punished for selling fake Kim photo
Cambodian PM undermining KRouge court: activists
Yachts for Kim Jong-Il? Italian shipbuilder 'defrauded'
Taco Bell ad star Gidget the Chihuahua dies at 15
China's BAIC out of Opel takeover race: GM
SKorea fines Qualcomm $208m for unfair trade
Early American portraits on display at Winterthur
Iron Man multi-tasks at annual comic convention | Entertainment |
Actor Dennis Franz sues over chandelier mishap
India's Bharti profits jump 24 pct, still in MTN merger talks
Review: Scares, dark laughs in `Orphan'
Jon Heder makes foray into original Web programming | Entertainment |
S.Korea fines Qualcomm $208 mln in anti-trust case
BRIEF-Telenor expects Pakistan mobile consolidation
Seoul shares hit new 10-mth high; earnings help =2
California Authorities Seize $1B Worth Of Marijuana From Sierra Pot Farms
Florida Radio Station Employees Find Out Health Care Plan Is Missing The Hard Way
Famed Taco Bell Chihuahua Dies From Stroke
Simon Cowell To Come Face-To-Face With 17 Ex-Girlfriends At His 50th Birthday Bash
Family Terrified Michael Jackon's Corpse Could Be Kidnapped
Jay-Z And Rihanna Rack Up $12K Bar Bill During Night Out
Weekend is now Friday-Saturday... in Algeria at least.
Millions In Asia Watch Six-Minute Total Solar Eclipse
Airman's Legs Amputated During Routine Gallbladder Surgery
iPhone Factory Worker In China Commits Suicide Over Missing Device
Amazon's lower margins spook Street, shares fall | Technology |
New York Times profit rises, studies Web access charge | Technology |
I have Amy Winehouse on my iPod, says UK's Brown | Entertainment |
Hezbollah arms cache violated U.N. embargo
Berlusconi's call girl accuser a liar: FM
Jolie appeals for Iraq aid on latest trip for U.N
Microsoft profit down 29 pct in weak market
French army rapped over blaze as Europe battles fires
Fiat announces bond issue, rater cautious
Netanyahu says he seeks peace with Palestinians
AP "news registry" to track online use
Japan turns to campaign gurus ahead of election | International |
Saddam palace suffers as Iraq seeks tourists
Researchers in new strides to fix broken hearts
Foreign Legion shooting exercise sparks French wildfire
Incumbent set for landslide win in Kyrgyzstan vote | International |
Early voting begins in key Kurdish elections
Mouse named Tiny may be big step forward in transplant quest
Macedonia's long wait for EU talks almost over: Rehn
CORRECTED: S.Africa's Zuma says backs police action on protests | International |
VW takes the wheel at Porsche
Ann Arbor News abandons print, goes online
Mexico narco junior teenagers escape jail | International |
Britain, France step up fight against swine flu
swoops for Xoopit email photo finding firm
Final arguments due in trial of Myanmar's Suu Kyi | International |
Clinton says Iran unable to respond to overtures
Iran opposition leader's brother-in-law arrested
Singer Winehouse in court over 'fan attack'
Hezbollah arms cache violated U.N. embargo: U.S | International |
Mousavi's wife says brother jailed in Iran crackdown
Toppled Zelaya in new bid to return to Honduras | International |
New US weekly jobless claims jump
Ageing Shanghai urges second baby for eligible couples | International |
Israeli missile-defense system hits snag
Taiwan digs up its oldest civilization | International |
News Corp sees MySpace as place for videogames | Technology |
US may rearm Georgia, despite Moscow's opposition
US mayors, rabbis in wave of corruption arrests
U.S. focuses new intelligence effort on Taliban
Microsoft raises specter of doubt on tech recovery | Technology |
Obama China pick vows clear-eyed approach
Amazon's Zappos buy seen clearing antitrust review | Technology |
Bin Laden's son may have been killed: US official
Sony to invest over $1 billion in Sharp LCD unit: report | Technology |
Japan opposition softens stance ahead of election
Judge accepts Mumbai gunman's confession
NKoreans risking lives for SKorean soap operas
FBI Agents Nab Top Fugitive In Wyoming
Senators praise Utah gov as China ambassador pick
China media say 4 dead, 50 missing in landslide
Obama Heading To Chicago For 2 DNC Fund-Raisers
Australia tells China it wants action on Rio
Friday Spacewalk On Tap; Robot Arm Moves Cargo To Platform
Energy Startup To Build Biggest Offshore Wind Farms In Texas
Bill Seeks $730 Billion In Funding, Mostly For Health Care Plans
Blood Pressure Meds May Slow Advance of Memory Loss
California Authorities Seize $1B Worth Of Marijuana From Sierra Pot Farms
Army: No indication Texas soldier was kidnapped
Obama Rallies For Health Care Reform At Town Hall In Ohio
Florida Radio Station Employees Find Out Health Care Plan Is Missing The Hard Way
NY Man Pleads Guilty To Helping, Receiving Training From Al-Qaeda
Top Chinese restaurant chains eye Taiwan market
News Corp plans shakeup of Star Asian TV: report
SKorean economy grows 2.3 percent in Q2
Anime films being based on "Halo" videogames
S.Korean bonds retreat after solid GDP data
Indonesia police arrest would-be suicide bomber
Bregenz Festival opens with visually stunning 'Aida'
New Moon rises at Comic-Con | Entertainment |
Potter prepared to fend off trio of newcomers | Entertainment |
EU approves Italian tax incentives to film industry
Korea Hot Stocks-Dongbu Steel tumbles on rights issue plan
Salzburg Festival, club for the super-rich feels economic pinch
Moviegoers to get sneak peek of 3D Avatar footage | Entertainment |
Seoul shares rise on positive Hynix earnings, GDP
S.Korea economy grows fastest in 5-½ years
Nepal to rebuild royal massacre house
Concert tour of Star Wars to kick off in October | Entertainment |
Pop singer Rain takes on SKorean soccer star Park
S.Korea fines Qualcomm $208 mln in antitrust case
Amy Winehouse in court on fan assault charge
US to warn China against export-led growth
Madonna's hits cause for Celebration | Entertainment |
A view from Comic Con: Costumes, comics, crowds
RPT-France-Pakistan nuclear deal to focus on safety
Bayreuth opening under new Wagners
'Eternal Sunshine' director to do 'Green Hornet'
Black Eyed Peas extend reign on U.S. singles chart | Entertainment |
Jay-Z to replace Beastie Boys in U.S. festival debut | Entertainment |
Kids TV programming rules, ads to be reviewed in U.S | Entertainment |
US probes soldier's capture in Afghanistan
Twenty-five dead in 'monstrous' Russian bus crash
Afghan president vows to regulate foreign troops | International |
British economy sees record contraction
Ericsson quarterly profits plunge
Global stocks rally on investor optimism
U.S. to transfer $200 million to Palestinians | International |
Iran cleric warns over moves to harm Khamenei | International |
Japan opposition hits back as LDP takes off gloves | International |
Swine flu has spread to almost every country: WHO
New service lets Jews tweet a prayer to God
Israel concerned over US "umbrella" on Iran
British battle for Afghan trust in restive south | International |
California lawmakers prepare for key budget vote
Mugabe urges end to violence, Tsvangirai seeks justice | International |
U.N. agency denies boss fled Gaza death threat | International |
Iraq's Maliki honors fallen US soldiers
Bill Gates to India: Go high end on R&D | Technology |
Palm re-enables iTunes sync in Pre software update | Technology |
US envoy to visit Syria
Obama Outlines $4 Billion School Fund Competition For States
Obama comments on professor's arrest spark controversy
Four Die In Maryland Helicopter Crash
Clinton: NKorea running out of options on nukes
Maliki hints at US troop presence beyond 2011
Senate Puts Off Healthcare Reform Bill Until After Obama's August Deadline
Federal Minimum Wage Now At $7.25
Fees for 911 service, by state
Contaminated Wash. site gets new treatment system
Drunken driver parks on Mich. police post's lawn
Samsung Electronics posts 'outstanding' Q2 results
Amy Winehouse cleared of assault | Entertainment |
S.Korea official says not time to chase won
New Moon rises at Comic-Con | Entertainment |
Hynix Semiconductor's net loss sharply narrows
Idol showrunner Warwick inks new deal | Entertainment |
Bodies stack up as California counts cost of funerals
Hollywood studios, networks in force at Comic-Con | Entertainment |
London's black cab drivers fear for their future
Sugarland's Nettles to miss 3 more concerts
Cuba's Silvio Rodriguez dedicates song to 'Che'
Austrian foundation: 2 Mozart works discovered
PUBLISHERS WEEKLY BEST-SELLERS
Jackson estate lawyers seek allowance for children
Nas ordered to make $44K monthly payments to Kelis
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01