Sunil Mittal News

Subscribe to enjoy similar stories.The Street keenly awaited Bharti Airtel’s board meeting outcome on Wednesday, more for its agenda of Africa telecom business ownership restructuring rather than the March quarter (Q4FY26) results announcement. Investors heaved a sigh of relief as the exercise simplifies the holding structure of Africa telecom business.

Bharti Enterprises founder and chairman Sunil Bharti Mittal has said that members of the next generation of the Bharti family will become more visible ‘at the shareholders’ table’ in the coming years, signalling a gradual succession plan within the group.Mittal said the younger family members would be mentored by him, executive vice-chairman Gopal Vittal, and the senior leadership team as they gradually assume larger roles. The comments offer the clearest indication yet of how succession planning is evolving at the Bharti Group, signalling continuity while retaining professional management oversight at one of India’s largest telecom and diversified business conglomerates.Speaking about succession planning as he approaches 70, Mittal said in a recent investor call with analysts that he still has ‘some years left’ to contribute to Bharti Airtel and Bharti Enterprises.“The next generation of my family—a larger family—is all building muscle in different forms and shapes.

Gopal (Vittal) is one of those rare leaders who is equally left and right brained. I once barged into Gopal's office and found him listening to Kumar Gandharva while deep in his Excel sheets. — Sudhir Sitapati, managing director and chief executive officer (CEO) of Godrej Consumer Products.Over the last nine-ten years, India's telecom sector has been buffeted into submission by the entry of the country's richest and most powerful businessman into phone services.

Bharti Airtel Chairman Sunil Mittal said today. “Opening up of the space sector to private industry is a big step….but intertemporal choices will have to be made as to how satellite services which are moving fast and technologies need to coexist with terrestrial networks,” Mittal said while speaking during the inaugural of World Telecommunication Standardization Assembly (WTSA-24) and India Mobile Congress. There are around 5% of people who are in those remote areas, in mountains, in forests where USO is trying to provide the services. With the Satcom services, they will be able to connect on a fast speed network to the internet, he said.

Bharti Enterprises plans to acquire a 24.5% stake in UK's BT Group for around $4 billion from the British firm's largest investor Altice UK, marking the Sunil Mittal-led company's second major international foray after venturing into Africa in 2010. This will make it the largest shareholder in BT, formerly British Telecom. In a statement Monday, Bharti said it has no intention of making an offer to buy control of Britain's largest broadband and mobile firm. Bharti is also not seeking a board seat, chairman Sunil Mittal told reporters. The purchase will be made by Bharti Global, which is the international arm of Bharti Enterprises, through Bharti Televentures. As per the terms of the deal, Bharti Televentures has acquired a 9.99% stake in BT Group's issued capital via open market trade. It will buy the remaining 14.51% after getting regulatory clearances. Mittal expects the deal to close in the coming months.

Sunil Mittal on Monday said the conglomerate's decision to acquire a 24.5 per cent stake in BT Group marks a «good, long-term investment» and an «attractive buy», citing the British company's strong portfolio of home broadband, fibre, mobile and enterprise offerings. Mittal, a telecom industry stalwart, exuded confidence about the investment and business prospects of BT and indicated that while the priority, for now, is to understand the company and the UK market in-depth, «if there are more opportunities in Europe, we will certainly be open to it in future». On Bharti's decision to buy a 24.5 per cent stake in BT Group — a move that would make it the single largest shareholder in Britain's largest broadband and mobile company — Mittal said: «I think this is a very attractive buy… the UK and European telecom companies are trading at low multiples...so given the cash flow expectations of BT, we believe this is going to be a good investment, and it is a long-term investment.

Vodafone Idea (Vi) is confident its operational creditors, including network gear makers Nokia and Ericsson and tower vendor Indus will continue to support it despite delays in clearing their dues as the telco’s upcoming 4G-cum-5G blitz will generate fresh business for them. “Vendor negotiations shouldn’t impact, despite payment issues. With (our) peers’ post-5G capex peak, equipment vendors potentially see Vi as the primary source of growth, making their support likely in addition to the recent preference shares issued for part dues,” Vi’s CFO Murthy GVAS told global brokerage J P Morgan at a recent meeting. Global brokerage J P Morgan also quoted Vi’s Murthy saying that even for Indus, which has “a high proportion of single-tenant towers recently rolled out for LTE coverage, Vi offers a profitable second tenancy and loading revenues that should keep the terms of trade in the telco’s favour”.

Vodafone Idea (Vi) should clear all of Indus Towers' past dues, else the struggling telco won't be allowed to use the tower company's infrastructure for any new services such as 5G, Bharti Airtel chairman Sunil Mittal said. Airtel is the largest stakeholder in Indus Towers, with around 48% stake.

Africa as in India. It is the second-biggest telecom company in the continent after South Africa's MTN. Fourteen years ago, Bharti Airtel chairman Sunil Mittal took the brave decision to go to Africa and it has been a perilous journey for his company. Africa, where Mittal had expected to map India's telecom growth story onto the continent, turned out to be little like India with its sparse population as well as political volatility which would discourage any pioneer telecom company. Now that Airtel Africa seems to be out of the woods, and having acquired an elephantine footprint in 14 countries across the continent, a big challenge might be shaping up. Mukesh Ambani, the chairman of Reliance Industries (RIL), who disrupted India's telecom market with low tariffs and cheap handsets by launching Reliance Jio in 2015 and swept aside Airtel to become the market leader, is acquiring a tiny foothold in the African telecom market as a telecom tech and equipment vendor. Also Read: RIL's Mukesh Ambani set for African safari with 5G tech solutions

Bharti Enterprises chairman Sunil Mittal says Vodafone Idea urgently needs $7-9 billion capital infusion to survive and a patient investor who has the wherewithal to withstand negative cash flows for some years. In an interview with Sruthijith KK on the sidelines of the World Economic Forum Annual Meeting in Davos, Mittal said ARPU (average revenue per user) needs to increase as 5G has been a huge load on telcos without any revenue coming through.

Akash Ambani, chairman, Reliance Jio, Sunil Mittal, chairman, Bharti Enterprises, and Kumar Mangalam Birla, chairman, Aditya Birla Group (the co-parent of Vodafone Idea), also told delegates at Asia’s biggest technology event, the India Mobile Congress, that they will double down on investments to ensure broader rollout of 5G in the country. “Country after country as well as World Bank, United Nations, WTO, the Africa Union, the EU, G20, BRICS – everyone is chanting that the digital infrastructure model that India has built can accelerate the world economy, especially in those countries which have lack of infrastructure,” Mittal said. Echoing the sentiment, Jio’s Ambani said using the latest technology can improve the lives of people and the best example of it is India’s digital public infrastructure, purpose-built on an integrated technology backbone that helps the state achieve its stated objective of financial inclusion for the underprivileged. “Millions of youngsters like me are inspired by your work in making Digital India a means to build a more innovative, inclusive and sustainable world,” Ambani said, referring to Prime Minister Narendra Modi. Speaking at the inauguration of India Mobile Congress, Ambani and Mittal also underlined their readiness to offer broadband-from-space services. Kumar Mangalam Birla, additional director of Vodafone Idea, added that India has emerged as a champion of the global south, with many countries from the global south now eager to adopt “India’s path breaking digital public infrastructure assets across identity, payments, and data management.” Mittal also highlighted the success India has achieved in manufacturing in the last few years with players ranging from Apple to

NEW DELHI : Reliance Jio launched its satellite communications service called Jio Space Fiber at the India Mobile Congress even as rival Bharti Group-backed satellite internet service conglomerate, Eutelsat-OneWeb, said it was ready to begin offering satellite broadband services from next month. The Mukesh Ambani-backed telco demonstrated the reach of the service by connecting four of the remotest locations in India with JioSpaceFiber in Gir, Gujarat, Korba in Chhattisgarh, Nabrangpur in Odisha and Jorhat, Assam.

“Country after country as well as World Bank, United Nations, WTO, Africa Union, European Union, G20, BRICS, everyone is chanting that the digital infrastructure that India has built can accelerate the world economy, especially in those countries which have lack of infrastructure,” Bharti Airtel chairman Sunil Mittal said during the inauguration of India Mobile Congress. He also stressed about the success India has achieved in manufacturing, particularly digital infrastructure in the last few years. “I spoke about it last year that manufacturing of the scale and size which we want may not happen in India during my lifetime. But I realised that India is moving fast,” Mittal said. He highlighted that companies ranging from Apple to Dixon to Samsung and Tata’s, every company, be it small or big, are getting into manufacturing and India is emerging as a world leader in manufacturing, especially digital infrastructure.

African Union joined the G20 on Saturday, Sunil Mittal, Founder and Chairman of Bharti Enterprises said the day will be remembered as a «defining milestone» towards charting more inclusive compositions across international organisations and their bodies. Mittal congratulated Prime Minister Narendra Modi «for successfully leading the inclusion of the African Union as a permanent member of the G20». «My hearty congratulations to PM Narendra Modi for successfully leading the inclusion of the African Union as a permanent member of the G20.

MUMBAI/ NEW DELHI : Billionaire Sunil Mittal backed telecom services provider Airtel Uganda Ltd, a subsidiary of Airtel Africa plc, plans to raise 800 billion Ugandan shillings or $216 million in an initial public offering (IPO), it said in a statement Tuesday. The company set the price for its initial public offering (IPO) at 100 Ugandan shillings (UGX) apiece, and will offer up to 20% stake or 8 billion shares, the company told the Uganda Securities Exchange. The IPO also fulfills regulatory requirements under which the company has to mandatorily list by 16 December.

Bharti Airtel says that it exited the quarter with an industry-high ARPU of Rs 200, compared to Rs 193 in Q4FY23 and Rs 183 in Q1FY23. «We continue to deliver industry leading ARPU along with growing average data usage per data customer at 21.1 GBs/month,» the company statement read.Bharti Enterprises chairman Sunil Mittal had earlier indicated that the average revenue per user (ARPU) needs to reach at least Rs 300, and prices are expected to increase with 5G but will still remain affordable.

Solana tanked 4 per cent, followed by 3 per cent fall in Bitcoin, Ethereum, BNB, Dogecoin, Luna and Avalanche. The global cryptocurrency market cap was trading almost lower at $1.88 trillion mark, with marginal gains in the last 24 hours. However, the total cryptocurrency trading volume zoomed about 18 per cent to $106.72 billion.What's cooking in India?Bharti Airtel chairman Sunil Mittal has backed FM Nirmala Sitharaman’s recent call for governments worldwide to evolve a suitable global regulatory regime to track new age cryptocurrencies which can pose serious problems.

Bharti Airtel chairman Sunil Mittal has backed FM Nirmala Sitharaman’s recent call for governments worldwide to evolve a suitable global regulatory regime to track new age crypto-currencies which can pose serious problems. “The world will move to crypto-currencies as it’s a fine technology, but nation states must collectively evolve a suitable global regulation to legitimise it and ensure such digital fund transfers happen in a safe environment, and that wrong people don’t benefit from it, especially as these transactions can’t be traced or tracked,” Mittal said at the Times Network India Economic Conclave 2022, Thursday. The telecom billionaire added that India is amongst the most important nations in a deeply-divided world as it has consistently valued its democratic system. This, he said, is also reflected in the fact that Indians today are CEOs of several top Fortune 500 countries, instead of anyone from neighbouring China, largely since MNCs across the world prefer to choose leaders from countries that have cherished democratic values and systems. “Do you really see even one Chinese heading an MNC today, there is none.”