Bharti Airtel may join Vodafone Idea in fight Reliance Jio; here’s what Sunil Mittal plans to offer

By: |
Updated: Feb 27, 2019 6:31 PM

In a bid to take on Reliance Jio, Bharti Airtel has invited Vodafone Idea to partner in the independent optical fibre firm that it is putting in place.

Government must ensure early 5G rollout, make spectrum available at reasonable pricing: Sunil MittalThe proposal, if accepted, would shape up the single largest independent fibre company in the country.

In a bid to take on Reliance Jio, Bharti Airtel has invited Vodafone Idea to partner in the independent optical fibre firm that it is putting in place. The proposal, if accepted, would shape up the single largest independent fibre company in the country. “We will have our fibre company in place by end of March and in that we have invited Vodafone to come and join,” Financial Express reported citing Bharti Enterprises Chairman’s interaction with a group of select journalists at the ongoing Mobile World Congress.

The given proposal is designed on the same lines as Indus Towers where Vodafone and Idea Cellular have stakes. Telesonic is a subsidiary of Airtel and a new structure would come into place if Vodafone accepts the proposal to pool together assets, he added.

The partnership is expected to assist Airtel to save on operational costs by slashing replication in the fibre network expansion.

At present, Bharti Airtel is creating Telesonic Networks to accomodate all of its 246,000 kilometres of fibre assets.

Also read: Mukesh Ambani among world’s richest 10; number of Indian billionaires falls

On being asked about a deal with Mukesh Ambani-owned Reliance Jio, Sunil Mittal said, “From our point of view, more the merrier… one fibre company will be perfect. We will first get the Vodafone thing going and will see after that”.

Bharti Enterprises Chairman also asked the government to reduce levies on the telecom sector, adding that the government has only given assurances and taken no action so far.

Meanwhile, Bharti Airtel posted a surprise profit of Rs 86 crore in the quarter ending December, supported by strong customer additions and expansion in mobile data volume. The company had reported a net profit of Rs 306 crore in the comparable quarter previous fiscal. The revenues for the given quarter came in at Rs 14,768 crore, declining by 2.3 per cent on-year on an underlying basis.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Unilever commits to living wage across its value chain by 2030
2Jet Airways engineers’ body files application with NCLT for speedy resolution
3Telcos’ gross revenue rise 14 per cent to Rs 68,228 crore in 2020 September quarter