New Delhi, May 13, 2008: This is further to Bharti’s earlier statements regarding ongoing exploratory discussions with MTN. Bharti would like to clarify that it has not made any “bid” nor is there any requirement to make a “bid”, as has been incorrectly speculated and reported.
The discussions being held are aimed at combining the strengths of the two leading ‘emerging markets’ players and accordingly veering towards possible structures to achieve this objective. Bharti would like to reiterate that these discussions are still exploratory in nature and may or may not lead to any transactions.
About Bharti Airtel
Bharti Airtel Limited, a group company of Bharti Enterprises, is India's leading integrated telecom services provider with an aggregate of 64.26 million customers as of end of March 2008, consisting of 61.98 million mobile customers. Bharti Airtel has been rated among the best performing companies in the world in the Business Week IT 100 list 2007.
Bharti Airtel is structured into three strategic business units - Mobile services, Telemedia services and Enterprise services. The mobile business provides mobile & fixed wireless services using GSM technology across 23 telecom circles. The Telemedia business provides broadband and telephone services in 94 cities and is foraying into the IPTV and DTH segments. The Enterprise services business provides end-to-end telecom solutions to corporate customers and national and international long distance services to carriers. All these services are provided under the Airtel brand. Airtel's high-speed optic fibre network currently spans over 73,787 kms covering all the major cities in the country. The company has two international landing stations in Chennai that connects two submarine cable systems - i2i to Singapore and SEA-ME-WE-4 to Europe. For more information, visit www.bhartiairtel.in