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Bharti founder hopes to be third time lucky with Africa bid

NEW DELHI, February 17, 2010 (AFP) - Indian telecom tycoon Sunil Bharti Mittal is hoping to make it third time lucky as he seeks to gain a presence in Africa, one of the world's least developed mobile phone markets. After two failed attempts to tie up with South African flagship MTN, the founder-chairman of cellular giant Bharti Airtel announced this week a 10.7-billion-dollar bid to buy the African unit of Kuwait's Zain telecom group.
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The takeover would be one of India's biggest cross-border deals and give Bharti a significant foothold in the continent's cellular market where just 36 out of every 100 people own a mobile phone.

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That compares with Europe and other developed markets where there are more mobile phones than people, while in India mobile use stands at about 44 connections per 100 people.
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"Africa is under-penetrated, it has less competition (than the Indian market). It is a step in the right direction" for Bharti, said Romal Shetty, senior telecom analyst at international consultancy KPMG.

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Bharti, India's largest mobile firm which is 32-percent owned by Singapore Telecom, and Zain, Kuwait's biggest phone company, said Monday they had agreed to hold exclusive talks until March 25 t

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