There is nobody in India who can buy Airtel: Sunil Mittal

Press Trust of India Posted online: Thursday, Oct 03, 2013 at 0000 hrs
Johannesburg : Asserting that there is nobody in India who can buy Airtel, Bharti group chairman Sunil Mittal today said the telecom firm will look at opportunities to acquire another company in India, provided that there is a clear merger and acquisition policy in place.

“I don’t think so that there is anybody in India who can buy us ...,” Mittal said here when asked about the new M&A norms in the works and as to whether his company would be the biggest buyer or the biggest seller.

However, he added: “We will be looking at opportunities (for consolidation) but for that a clear M&A policy which has the objective of being an enabler for consolidation is required.” Airtel is India’s largest telecom company with 192.22 million subscribers as of August-end. The company had a market capitalisation of Rs 1.28 lakh crore as on October 1.

Mittal also said his firm’s partner SingTel would like Airtel to be a consolidator in the market.