|Bid||345.65 x 0|
|Ask||345.90 x 0|
|Day's Range||344.55 - 348.50|
|52 Week Range||254.29 - 366.20|
|Beta (3Y Monthly)||1.14|
|PE Ratio (TTM)||339.07|
|Forward Dividend & Yield||4.59 (1.33%)|
|1y Target Est||389.77|
Airtel Africa is targeting a valuation of up to £3.6bn as it pushes ahead with a London listing, the continent’s second-largest mobile operator said on Monday. The group has set a price range for its initial public offering at 80p to 100p, implying a market capitalisation of £3.007bn to £3.623bn, excluding an overallotment option. “We have built Airtel Africa into the second-largest mobile operator in Africa and our clear strategy and efficient business model make us well positioned to capture the growth opportunities across our markets, in voice, data and mobile money,” said Raghunath Mandava, Airtel Africa chief executive.
The company said the price range values it between 3.01 billion pounds and 3.62 billion pounds at the price range. Airtel Africa also said it intends to list its shares on the Nigerian Stock Exchange at the same time as the London listing.
India's Bharti Airtel has agreed to pay 60 billion shillings ($26 million) over five years and cancel debt to resolve a dispute over ownership of its Airtel Tanzania unit, the Tanzanian government said on Monday. Tanzania's minister for foreign affairs and east Africa cooperation, Palamagamba Kabudi, announced the deal at a ceremony to receive a three-month batch of monthly payments worth 1 billion shillings each due from April this year. Bharti Airtel also cancelled $407 million of debt owed to it by Airtel Tanzania as part of the settlement, Kabudi said.
The initial public offering by Airtel Africa Ltd. would comprise new shares and the sale would seek a free float of at least 25%, the company said in a filing on Tuesday. Airtel is Africa’s second-largest mobile operator behind Johannesburg-based MTN Group Ltd. with almost 100 million subscribers across 14 countries including Nigeria, Kenya and Tanzania. Bharti Airtel, controlled by tycoon Sunil Mittal, is fighting a costly war in India with billionaire Mukesh Ambani’s upstart Reliance Jio Infocomm Ltd. Airtel’s earnings have shrunk and debt soared since Reliance Jio stormed the Indian market in 2016 with free calls and cheap data.
Airtel Africa Ltd, a subsidiary of Indian telecoms group Bharti Airtel Ltd , is considering a stock market flotation in London, it said on Tuesday, part of efforts to expand its data and mobile money services across Africa. Airtel operates in 14 African markets including Democratic Republic of the Congo, Kenya, Nigeria, Rwanda, Seychelles, Uganda and Zambia.
Mittal’s Bharti Airtel Ltd. has started due diligence of Zee Entertainment Enterprises Ltd. and is expected to make a formal proposal soon, one of the people said, asking not to be identified citing confidentiality. Ambani’s Reliance Jio Infocomm Ltd. is also considering a bid, the people said. A spokesperson for Bharti said the company is not in the race to acquire the television network.
The proportion of Kenya's population with access to formal financial services rose to 83 percent from 75 percent in 2016, driven largely by mobile technology, a survey part-conducted by the central bank showed on Wednesday. The East African nation is one of the world's leaders in mobile money services, after telecoms operator Safaricom pioneered its M-Pesa service 12 years ago to cater for Kenyans without access to the formal banking network. M-Pesa has since evolved from a basic SIM card-based money transfer application into a fully-fledged financial service, offering loans and savings in conjunction with local banks, plus merchant payments services.
Websites like Reddit and Telegram are being blocked in India by internet service providers, throwing into question the enforcement of net neutrality rules, advocacy groups said on Wednesday. Restrictions on "torrent sites" that offer free movie and music downloads are routine in India to prevent copyright infringement. Pornography websites are also blocked by court orders seeking to protect children.
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.