Airtel plans bid for Millicom Sri Lanka network: Report
Mumbai: India`s Bharti Airtel plans to bid for telecom operator Millicom`s Sri Lankan mobile network, the Economic Times said on Wednesday, citing two executives familiar with developments.
The move would make it the second largest mobile phone operator in the island nation, trebling its user base from one million now, the paper said.
A spokesman for Bharti told Reuters he would not comment on market speculation.
Bharti will have to compete with an array of suitors such as Malaysia`s Axiata Group, Russia`s Vimpelcom and United Arab Emirates Etisalat, which are reportedly interested in Millicom`s Asian assets, including Tigo network in Sri Lanka, the report said.
Millicom International had put its operations across Cambodia, Laos and Sri Lanka on the block in July, the report said.
Bharti`s Sri Lankan arm has already invested $125 million in the country against a commitment of $250 million, the paper said.
Bharti is in exclusive talks with South Africa`s MTN aimed at a merger to create the world`s third-biggest telecoms firm.
Download the all new Zee News app for Android and iOS to stay up to date with latest headlines and news stories in Politics, Entertainment, Sports, Technology, Business and much more from India and around the world.
More from India
More from World
More from Sports
More from Entertaiment
- Dr Subhash Chandra Show: How to expand your existing business
- Entire Indian force can't defend Kashmir from terrorists, says Farooq Abdullah
- Prashant Bhushan questions Arvind Kejriwal on Lokpal through press conference
- UP: DM B Chandrakala participates in anti-riots drill in Bulandshahr
- PM Modi addresses the nation during Maan Ki baat
- Women fit only to deliver children, gender equality un-islamic: Kerala Muslim leader
- Russia strikes down Goa, India from its safe travel destinations list
- Arvind Kejriwal backs Tarun Gogoi's claim over Guv favouring BJP, suspects 'coop federalism'
- PM Modi leaves for Paris to take part in Climate Conference
- AR Rahman's romantic ballads steal Delhi hearts