Tele Chase

NEW DELHI, Sept 18 (Asia Pulse) – Luxembourg-based Millicom
has rejected Indian telecom PSU BSNL’s bid to acquire its
operations in Sri Lanka, but India’s largest private mobile
operator Bharti Airtel has entered the ring.

Bharti Airtel, which is in talks with South African telecom
firm MTN for a possible deal to create a US$23 billion entity
with over 200 million subscribers, continues to be in race to
buy Millicom.(PTI) “They (Millicom) have not considered our bid. We had quoted
a value what we thought was appropriate but it has fallen short
of their expectations,” BSNL CMD Kuldeep Goyal said.

Airtel, which has mobile services running in Sri Lanka, has
also put in its bid to acquire a 100 per cent stake in Millicom,
sources said. BSNL’s ouster could provide an advantage to the
private Indian telecom firm.

According to sources, Malaysia’s Axiata Group and Etisalat
from the United Arab Emirates are among other bidders.

The Nasdaq-listed firm Millicom provides prepaid cellular
telephony services to over 30 million customers in 16 emerging
markets in Latin America, Africa and Asia.

It has put its assets in Sri Lanka, Laos and Cambodia up for
sale and has about two million subscribers in Sr

Notify of
Inline Feedbacks
View all comments