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Bharti Airtel has approached SBI for loans: Govt

Last Updated: Friday, August 7, 2009 - 22:07

New Delhi: The government on Friday said that
telecom service provider Bharti Airtel has approached State
Bank of India for two separate loans of USD one billion and Rs
5,000 crore, which is yet to be finalised.

In a written reply to the Lok Sabha, Minister of State
for Finance Namo Narain Meena said "Bharti Airtel Ltd has
approached SBI for loans of USD one billion and Rs 5,000

However, the Minister added that the details of the loans
to Bharti Airtel have not been finalised by the bank.

Bharti Airtel and South African telecom firm MTN both are
in duologue for a possible alliance. The two parties have
extended the date of exclusive talks to August 31.

Meena further said that for giving the loan SBI is not
required to seek approval from the market regulator -
Securities and Exchange Board of India.

"Any regulatory or other clearance is required to be
obtained by the borrowers themselves," Meena added.

Bureau Report

First Published: Friday, August 7, 2009 - 22:07
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