We would like to see a policy on MVNOs: Gupta

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Singapore, Mar 17: Akhil Gupta , group managing director at telecom major Bharti Airtel Ltd is a busy man these days. In between giving finishing touches to the company’s major strategic expansion plans, he is also busy making a pitch for the Indian telecom sector to foreign audiences. In Singapore for the two-day India-Asia Investment Forum, Gupta also made it clear that Bharti would look at acquisitions if there was a right fit, but only ones, which were of large size, of over $500 million.

In between making a corporate presentation on Bharti and speaking at a session on how to capitalise on the Indian consumer, Gupta spoke to FE on various issues, ranging from the Tata-Virgin alliance, the tower business and Bharti’s future plans.

There’s a controversy over the exact nature of the Tata-Virgin alliance. What is your view? How does Bharti see this development?

The government has said that as per the terms of that agreement, it’s a franchise agreement. But whether it’s a franchise or mobile virtual network operator (MVNO) once you accept competition all that we say is, why get into this debate whether it’s MVNO or not? Make a policy for that. The government has also said they will refer it to Trai.

A lot is happening on your tower business. Currently, Indus Towers is a three-way joint venture between you, Vodafone and Idea. Are you open to getting more players in it?

Our theory on the tower business is, it’s an independent company, which, on a complete non-discriminatory basis will offer the towers for sharing to everybody. If somebody wants to pool in their towers, they are absolutely open. It’s an independent company and it’s open to all the operators.

And you have about 42% in it?

Yes, 42%.

Are you looking at divesting some part of this stake?

We have already announced that we are raising $1.25 billion. That we’ve already tied up and announced. We have no plans of increasing that significantly. This raising of funds is in Bharti Infratel, which roughly corresponds to about 8-9%.

That’s where Temasek and other PE players came in as a club?

Yes, that’s the one.

Is there a plan to consolidate the two tower companies and bring them together?