With merger and acquisitions (M&A) being the flavour of the season in the Indian telecom sector, Bharti Airtel Ltd, the country?s largest mobile operator has appointed Shaun Parmar as the group?s new M&A director.
Parmar who joins after his stint in Gilden Active Wear, Canada, has earlier worked in Bell Canada, which is Canada?s largest telephone and telecommunication company. In Bharti Enterprises, Parmar would assume the role as the corporate director of the group and would be responsible for mergers and acquisitions, strategic alliances and other business development.
Bharti Airtel has already announced that the company would be evaluating various possibilities of acquisitions in the emerging markets. The South African telco MTN, which has a market capitalisation of $32 billion, had earlier entered into negotiations with Bharti.
The negotiations broke down as the corporate structure, which MTN proposed, entailed Bharti Airtel becoming a subsidiary of MTN and was completely different from what the telco companies had agreed earlier.
Bharti with a market share of 32.5% is the market leader.
