The Committee of Secretaries was last month constituted to examine "all aspects" of "financial stress" faced by service providers such as Bharti Airtel and Vodafone-Idea Ltd and suggest measures to mitigate them.
The company did not disclose the size of the 'acquihire' deal, which typically entails acquisition of people or teams. "Quikmile’s team will now be a part of Airtel X Labs – Airtel’s digital innovation factory, which focuses on IoT, Digital Engineering, Artificial Intelligence, and Machine Learning," Airtel said in a statement.
Airtel on Monday said it will start increasing rates for mobile services in December. The telecom sector is highly capital intensive with fast changing technology cycles that require continuing investments and therefore, extremely important that the industry remains viable to support the vision of Digital India, Bharti Airtel said in a statement on Monday.
"...the management of the company recommended to the board of directors that the agenda item related to the approval of audited financial results for the second quarter and half year ended September 30, 2019... be deferred till November 14, 2019, on account of the fact that more clarity is needed on the AGR matter arising out of recent judgement of... the Supreme Court," Airtel said in a regulatory filing.
The fall comes on the back of a Supreme Court order on Thursday asking telcos, including Bharti Airtel and Vodafone-Idea, to pay the government as much as Rs 92,000 crore in dues, which includes penalties and interest
Telecom operator Bharti Airtel has signed a pact with AMPSolar Evolution to acquire 26 per cent stake in the solar power firm for Rs 8.4 crore.
The closure of 3G network is part of the company's plan to gradually phase out the third generation services across the country.
The company on Wednesday said it has raised USD 750 million (about Rs 5,330 crore) from investors based in Asia, Europe and the US through a hybrid financial instrument.
Bharti Airtel has appointed a clutch of bankers including BofA Merrill Lynch, Barclays, BNP Paribas, Citigroup, HSBC, J P Morgan and Standard Chartered Bank as joint bookrunners and joint lead managers to organise a series of fixed income investor meetings and calls across Asia, Europe and the US starting Wednesday,
According to the report, the tax cut means at the most that Bharti Airtel (Bharti) will see a small benefit on cashflow basis in the near term.
Airtel has introduced its innovative Rs 599 prepaid bundle with 2GB data/day, unlimited calls to any network and 100 SMS/day, and also offers Rs 4 lakh life insurance cover from Bharti AXA Life Insurance. The recharge comes with a validity of 84 days and the insurance cover continues automatically for three months with every recharge.
"Starting today (on Wednesday), Airtel Xstream Fibre is available to Homes, SOHO (Small Office Home Office) and small commercial establishments in Delhi, Gurgaon, Faridabad, Noida, Ghaziabad, Mumbai, Pune, Bangalore, Hyderabad, Chennai, Chandigarh, Kolkata, Indore, Jaipur and Ahmedabad," Bharti Airtel said in a statement.
"Airtel Africa has crossed the 100-million subscriber mark. The positive momentum we have seen in customer acquisition further underpins our medium-term aspirations for revenue and profit growth," Raghunath Mandava, chief executive officer of Airtel Africa, said in a statement.
In response to an email query sent by PTI on the issue, Airtel Payments Bank Managing Director and CEO, Anubrata Biswas said that the company will continue to invest in ramping up operations to tap the "enormous opportunity presenting itself".
"Customers can look forward to highly secure and reliable connectivity solutions across the length and breadth of India," Director and CEO of Airtel said.
The net debt of Bharti Airtel at the end of the third quarter of 2018-19 stood at Rs 1.06 lakh crore.
The new tariff regime for cable and DTH TV services, which mandate consumers to select channels of their choice -- either individual channels or bouquets -- came into effect on February 1.
Reliance Jio, the new entrant, exceeded Vodafone and Idea Cellular's AGR, individually, in the January-March quarter.
Airtel ties up with Telecom Egypt for global submarine cable systems and to serve the growing demands of data services in Middle East, South Asia and Africa.
Bharti Airtel and music app Saavn have been named among companies that could have had access to Facebook data.
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