|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||329.50 - 347.20|
|52 Week Range||277.00 - 427.00|
|Beta (3Y Monthly)||1.14|
|PE Ratio (TTM)||342.10|
|Forward Dividend & Yield||5.00 (1.50%)|
|1y Target Est||389.77|
The deal announced on Wednesday is the second major fundraising by an Indian telco this year after Bharti Airtel Ltd announced a similar plan to raise $4.6 billion for reducing debt and funding operations in a market blighted by steep price competition. The issue will increase the number of Vodafone Idea shares by 229 percent, diluting it to 28.74 billion outstanding shares. Promoters Vodafone Group PLC of Britain and India's Aditya Birla Group will also take part in the issue by subscribing to shares worth up to 110 billion rupees and 72.5 billion rupees, respectively, the company said.
(Reuters) - Indian shares edged higher for a fifth consecutive session on Friday, marking their best week in over three months, as investors expect a second term for the incumbent government. The benchmark ...
SingTel renounced a part of those rights in favor of Singapore’s sovereign wealth fund for no consideration.Yes, gratis, free of charge. Given that GIC Pte’s investment returns play a big role in funding Singapore’s increasingly welfarist budget, it’s only fair that SingTel should ask for a tax offset against its gift to the fund. SingTel’s prized investment is Bharti Airtel Ltd., India’s mobile market leader.
Airtel's unit Nettle Infrastructure Investments Ltd will buy an up to 32 percent stake in Bharti Infratel by March 18, Infratel said https://www.nseindia.com/corporate/listcontract1_12032019074549_Nettle01_002.pdf in an exchange filing. Airtel will own an 18.3 percent stake in Infratel after the transfer, down from its current stake of 50.33 percent. "Whenever Airtel transfers stake to Nettle Infrastructure, (eventually) they will sell the stake to a third party.
SINGAPORE/BANGALORE (Reuters) - Singapore Telecommunications Ltd (Singtel) said it will buy roughly $525 million worth Bharti Airtel stock as part of the Indian telecoms operator's plan to raise $4.6 billion through shares and bonds. Airtel hopes to use the money to cut debt and shore up its balance sheet at a time when the broader Indian telecom industry is grappling with a price war triggered by the entry of Reliance Jio Infocomm Ltd. Under the fund raising plan, announced last month, Airtel plans to sell new shares worth 250 billion rupees ($3.6 billion) for 220 rupees apiece, or a nearly 30 percent discount to its current stock price.
Moody's Investors Service ("Moody's") has revised the ratings outlook on Singtel Optus Pty Limited (Optus) and Optus Finance Pty Limited (Optus Finance) to negative from stable. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS.
Moody's Investors Service has revised Singapore Telecommunications Limited's (Singtel) and Singtel Group Treasury Pte. Ltd.'s ratings outlook to negative from stable. At the same time, Moody's has affirmed the company's senior unsecured ratings of A1. Moody's has also affirmed the (P)A1 rating on the Euro Medium Term Notes programme as well as the A1 rating on all notes issued by Singtel Group Treasury Pte. Ltd., under the unconditional and irrevocable guarantee from Singtel.
Ugandans will be able to buy government securities through a mobile money platform in a move by the east African country to become less dependent on commercial banks and institutional investors for its funding. The government said in a statement on Tuesday that the measure, which was approved at a cabinet meeting on Monday, would boost savings and investment among ordinary Ugandans as well as driving economic growth. Ugandans with mobile money accounts, many of whom had limited access to banks, will now be able to directly buy government debt.
India's Bharti Airtel said on Friday its unit Airtel Networks Kenya Ltd has agreed to merge with Telkom Kenya Ltd, the East African nation's smallest telecom operator. Three industry sources told Reuters last month that Bharti Airtel was in talks to buy Telkom Kenya to create a stronger challenger to market leader Safaricom. Kenya has one of the most advanced telecoms sectors on the continent, but Safaricom's 65 percent market share has curbed competition and prompted the regulator to mull intervention.
Airtel, once seen as the bellwether of the domestic telecoms industry, posted a nearly 72 percent fall in quarterly profit last Thursday, suffering from continuing pricing pressure. The telecoms industry is still reeling from the impact of a price war which began after the entry of Reliance Jio Infocomm Ltd, owned by India's richest man Mukesh Ambani. The shake-up resulted in industry consolidation such as London-based Vodafone Plc merging its Indian operations with Idea Cellular in a deal worth $23 billion, making it the biggest telecoms company.
Moody's Investors Service ("Moody's") has downgraded to Ba1 from Baa3 the senior unsecured rating for Bharti Airtel Ltd. (Bharti) as well as the backed senior unsecured notes issued by Bharti's wholly owned subsidiary, Bharti Airtel Int'l (Netherlands) B.V. At the same time, Moody's has assigned a Ba1 corporate family rating (CFR) to Bharti and withdrawn the company's Baa3 issuer rating. "The downgrade reflects uncertainty as to whether or not the company's profitability, cash flow situation and debt levels can improve sustainably and materially, given the competitive dynamics in the Indian telco market ," says Annalisa DiChiara, a Moody's Vice President and Senior Credit Officer.
(Reuters) - Bharti Airtel Ltd posted a nearly 72 percent fall in quarterly profit on Thursday, its 11th straight profit decline on a year-on-year basis, as the telecoms bellwether suffered from continuing ...
Kenya's biggest telecoms operator, Safaricom, notched up one million users for its new overdraft feature on the M-Pesa platform in just eight days, surpassing its CEO's expectations, he said on Thursday. Started 11 years ago as a service to allow Kenyans without access to the banking network to transfer money via mobile phones, M-Pesa now offers loans and savings in conjunction with local banks, as well as merchant payments services. Safaricom, part-owned by South Africa's Vodacom and Britain's Vodafone, launched the new overdraft feature called Fuliza on Jan. 7 this year.
India's Bharti Airtel is in talks to buy Telkom Kenya, the East African nation's smallest telecoms operator, to create a stronger challenger to market leader Safaricom, three industry sources told Reuters on Monday. London-based Helios Investment, which owns a 60 percent stake in Telkom, is looking to partly cash out of the investment which it entered in 2015, the sources said. Airtel, currently Kenya's second-biggest telecoms operator, declined to comment.
To access the newsletter, click on the link: http://share.thomsonreuters.com/assets/newsletters/Indiamorning/MNC_IN_01142019.pdf If you would like to receive this newsletter via email, please register at: http://financial-risk-solutions.thomsonreuters.info/india-morning FACTORS TO WATCH 12:00 pm: Government to release December wholesale price inflation data in New Delhi. 5:30 pm: Government to release December consumer price inflation data in New Delhi. To join the conversation, click on the link: https://refini.tv/2P8N0Wp INDIA TOP NEWS • India's industrial output growth nosedives in November India's industrial output slumped to 0.5 percent in November amid a slowdown in auto and garment manufacturing, making Prime Minister Narendra Modi's challenge to boost investment before an election in the coming months seem tougher than ever.
India's Bharti Airtel has agreed to give part of its stake in Airtel Tanzania to the government, raising the East African nation's holding in the mobile phone operator to 49 percent from 40 percent, the president's office said on Friday. The announcement followed talks in Dar es Salaam between President John Magufuli and Bharti Airtel Chairman Sunil Mittal to resolve a dispute over ownership of the Tanzanian mobile operator. "We have in principle agreed to move forward with a new arrangement of shareholding of 51:49 -- where Airtel will now drop from 60 percent to 51 percent and the people of Tanzania through the ownership of the government of Tanzania will own 49 percent," Mittal said.
(Reuters) - Indian telecom stocks such as Vodafone Idea Ltd lost ground on Thursday after the industry regulator released monthly data that showed a bleak rise in the country's mobile phone customer base. ...
Kenyan telecom operator Airtel, a unit of India's Bharti Airtel, slightly increased its mobile subscription market share in the third quarter, while rival Safaricom's fell, an official report showed on Tuesday. Overall mobile subscriptions in the East African country grew by 2.3 percent to 46.6 million subscribers in the period, driven by some subscribers acquiring extra SIM cards, the report by the Communications Authority of Kenyan (CAK) said. Airtel's subscriber market share gained nearly a percentage point to 22.3 percent in the third quarter, which the report said was due to its cheaper tariff plans, while Safaricom's fell by slightly over a percentage point to 64.2 percent.
(Reuters) - Indian shares eked out a slightly positive finish on Friday, with the NSE closing above 10,800 points for the first time in 10 days, buoyed by gains in energy, IT and telecom sectors. The broader ...
Moody's Investors Service says Singapore Telecommunications Limited's (Singtel, A1 stable) results for H1 FY2018-19 -- which ended September 2018 -- can be accommodated in its A1 senior unsecured rating and stable outlook. Group operating revenues for H1 FY2018-19 were stable at SGD8.4 billion, and were impacted by negative currency movements.
Moody's Investors Service ("Moody's") has placed on review for downgrade the Baa3 issuer and senior unsecured rating of Bharti Airtel Ltd. (Bharti) and the ratings on the backed senior unsecured notes issued by Bharti's wholly owned subsidiary, Bharti Airtel International (Netherlands) B.V. The review also reflects the company's low levels of profitability, particularly from its core Indian mobile operations, negative free cash flow and higher debt levels to fund capital spending. "Because we believe a more rational competitive environment in India's telecommunications market is unlikely over the next 12-18 months, the review also reflects uncertainty as to whether the company's profitability, cash flow situation and debt levels can improve sustainably and materially over the same period," adds DiChiara, also Moody's lead analyst for Bharti.
(Reuters) - Airtel Africa Ltd, a subsidiary of India's Bharti Airtel Ltd, on Monday said preparations for its initial public offering (IPO) are on track. "The new board is in place with new investors' ...
It plans to seek an enterprise value of about $8 billion for the Africa business, the people said, asking not to be identified because the information is private. “Airtel Africa IPO preparations are proceeding as per plan and there is no change,” a representative for Bharti said in a statement Monday.