|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||338.40 - 345.40|
|52 Week Range||254.20 - 378.75|
|Beta (3Y Monthly)||1.11|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||4.59 (1.34%)|
|1y Target Est||N/A|
The Mauritius-incorporated company, founded in 2009, has about 7,000 towers in five countries, including the Democratic Republic of Congo and Tanzania where there are no other independent companies renting masts to mobile operators. People close to the company, which could be valued at anything up to $2bn, said it had decided to try an initial public offering again after several other Africa-focused companies had listed this year.
(Bloomberg) -- Three years after elbowing into the Indian wireless phone market with free calls and data, billionaire Mukesh Ambani is back at it.This time, Asia’s richest man is handing out TVs to hook users on movies and entertainment shows via internet. The tycoon is wedging into a business teeming with players from rival mobile carriers to Netflix Inc. and Amazon.com Inc.Ambani’s JioFiber broadband service, scheduled to start Thursday across India, comes with a high-definition television and set-top boxes at no charge for annual lifetime subscribers. The offer by Reliance Jio Infocomm Ltd., the tycoon’s wireless powerhouse, includes subscriptions to most premium streaming services with prices starting from 700 rupees (about $10) a month.The fiber-TV salvo comes days after Jio formally swept into the No. 1 spot for wireless services after free calls and cheap data lured hundreds of millions of subscribers and left rivals Bharti Airtel Ltd. and Vodafone Idea Ltd. struggling under mounting debt. Airtel, backed by tycoon Sunil Mittal, and billionaire Kumar Mangalam Birla’s Idea are also trying to lure users by offering access to TV and movie content.Telecom carriers around the world are adding entertainment content to their offerings as a way to compete for users and add revenue, especially in markets where the number of mobile subscriptions has reached saturation. In India, video-on-demand growth itself is explosive, according to researcher Boston Consulting Group.The market could leap to $5 billion by 2023 from $500 million last year, BCG estimates. The boom has set Bollywood production houses, carriers and streaming services racing to feed demand for TV shows and movies and compete for users. Paying subscribers will probably rise to as many as 50 million, while users of advertising-supported video-on-demand will reach 600 million, BCG predicts.To gain the upper hand in the streaming business against well-funded competitors like Netflix, Amazon.com and Walt Disney Co.’s Hotstar, Jio will need to go beyond just offering cheaper access via bundled services, said Shailesh Kapoor, founder and chief executive officer at Mumbai-based consultancy Ormax Media Pvt.So far, the telecommunications company has relied on alliances with TV and film producers to provide content for its service bundles. JioFiber will also include movies that can be seen by subscribers on the same day they debut in cinemas, Ambani said in a speech laying out the plan on Aug. 12. That part of the service won’t start until the middle of next year, he said.Own ContentJioFiber, which Ambani said is being offered at “less than one-tenth the global rates,” can also disrupt the streaming market if Jio produces its own content and signs up the best talent for that, Kapoor said.Airtel, the brand name for Mittal’s carrier, may take the most direct competitive hit from JioFiber because, along with content bundles for its mobile services, it is one of the country’s largest TV service providers. The company’s digital TV segment accounted for about 12% of earnings for the year ended March, data compiled by Bloomberg show.In a possible attempt to get ahead of JioFiber’s formal introduction, Airtel on Tuesday unveiled upgraded versions of its set-top box and the Airtel Xstream Stick, a USB device that allows an ordinary television to access OTT applications like Netflix, Amazon Prime Video and YouTube, along with Airtel’s other content offerings.Satellite providers such as Tata Sky Ltd. and Dish TV India Ltd. as well as cinema chains also face competition from Jio, which will offer fiber TV in bundles with its mobile services and free landline calling.A a fiber-to-the home system may also lure users away from services designed to be viewed on mobile devices, said Girish Menon, partner and head of media and entertainment at KPMG India.“Customers in India are not fussy about switching platforms to watch good content,” Menon said.(Adds comment from researcher in final paragraph)To contact the reporter on this story: P R Sanjai in Mumbai at firstname.lastname@example.orgTo contact the editors responsible for this story: Sam Nagarajan at email@example.com, Dave McCombsFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Indian telecom operator Bharti Airtel Ltd reported its first quarterly loss in over a decade on Thursday, taking a one-time hit of 14.69 billion rupees, as it lost customers amid a fierce battle against Reliance Jio for market share. Airtel's net loss for the three months ended June 30 was 28.66 billion rupees ($415 million), compared to a profit of 973 million rupees a year ago. Like rival Vodafone Idea Ltd, Airtel has been under pressure ever since Jio, controlled by Asia's richest man Mukesh Ambani, launched its telecom services and shook up the market.
The company, which debuted on the London Stock Exchange last month, is backed by investors including SoftBank Group Corp, Warburg Pincus and Temasek Holdings (Private) Ltd. It operates in a region that has a large untapped market, while its European peers have been suffering. Airtel Africa, a unit of India's Bharti Airtel Ltd, said pretax profit for the first quarter ended June 30 rose to $167.4 million from $80.2 million a year earlier.
A government panel on Wednesday approved a combined penalty of 30.5 billion rupees ($442 million) on telecom operators Bharti Airtel and Vodafone Idea for not providing points of interconnection to Reliance Industries' telecom unit Jio when it began operations in 2016, Indian media reported. India's telecom regulator in 2016 recommended the penalty against Bharti, and what were then Vodafone Group Plc's India unit and Idea Cellular, saying the three denied points of interconnection to Jio, a move it termed as anti-consumer and aimed at stifling competition.
Reliance Industries Ltd's telecom unit Jio pipped rival Bharti Airtel to become India's second-largest operator by subscribers as of May, government data showed. Jio, controlled by Asia's richest man Mukesh Ambani, has disrupted the telecom industry in the country since it was launched in 2016, offering cheap bundles and prompting shutdowns. As of the end of May, the operator had added 8.2 million users since April to end the month with 323 million wireless customers, data from the Telecom Regulatory Authority of India, showed.
Airtel Africa shares fell sharply on Wednesday, a day after its debut $4.4 billion flotation in Lagos, mirroring a similar decline on the London stock market where the telecoms firm has its primary listing. Airtel dropped 10% in early trade on Wednesday, hitting a low of 359.40 naira against an initial public offering price of 363 naira. The telecoms company, owned by India's Bharti Airtel, listed in Lagos on Tuesday in an offering that made it the third-largest company on the exchange by market value behind main rival MTN Nigeria and Dangote Cement.
Airtel Africa listed on the Nigerian Stock Exchange on Tuesday in a 1.36 trillion naira ($4.4 bln) flotation turning the telecoms company into the bourse's third-largest stock by market value. Airtel Africa's shares climbed 10% from their listing price of 363 naira after the float went live. The company, owned 68.3% by India's Bharti Airtel, offered shares in its African unit two weeks ago via a London IPO and said it would dual list in Nigeria, its biggest market in Africa.
Airtel Africa aims to list on the Nigerian bourse on Monday, one of the financial advisors arranging the issue said, after the exchange postponed the listing which had been scheduled for Friday. The Nigerian Stock Exchange on Friday said the secondary listing of Airtel Africa shares planned for July 5 had been postponed to ensure the telecoms company meets its listing requirements. India's Bharti Airtel last week offered shares in its African unit via a London IPO and it would dual list in Nigeria, its biggest market in Africa.
Global share listings hit their lowest level in three years in the first half of the year, with a slowdown in Europe counteracting a stronger U.S. showing where tech giants Uber and Pinterest made their debuts. Proceeds from global listings fell 31% to $62.8 billion in the year to date, compared to $90.5 billion in the same period a year ago, mostly dragged down by a seven-year low in Europe, Refinitiv data shows. Among the most anticipated share offerings of the year were Silicon Valley's ride hailing apps Uber Technologies and Lyft Inc and image sharing website Pinterest.
Global share listings hit their lowest level in three years in the first half of the year, with a slowdown in Europe counteracting a stronger U.S. showing where tech giants Uber and Pinterest made their debuts. Proceeds from global listings fell 31% to $62.8 billion in the year to date, compared to $90.5 billion in the same period a year ago, mostly dragged down by a seven-year low in Europe, Refinitiv data shows. At $79 billion market capitalisation, Uber was the biggest of a group of tech startups that have spent years raising money in private rounds at record prices before listing.
Airtel Africa shares fell as much as 15% on Friday after its London stock market debut, hitting a low of 67 pence ($0.85) against an initial public offering price of 80 pence. The company, a unit of India's Bharti Airtel Ltd, set a range of 80 to 100 pence per share last week for its IPO, before pricing at the bottom of the spread. The final offer comprised 744 million new shares, setting the deal size at 595 million pounds and the initial market capitalisation at about 3.1 billion pounds at issue, the company said.
Airtel Africa, a unit of India's Bharti Airtel Ltd, last week set a price range of 80 to 100 pence per share for its IPO, which is expected to raise 595 million pounds from the issuance of 595.2 million to 744 million new shares. The bookrunner, which said on Monday it had received indications of interest worth about $200 million from pre-IPO investors, said it had further investor orders of $100 million.
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.