Bharti Airtel to invest US$125mn in Gabon - Angel Broking

Bharti Airtel has said that the company will invest US$125mn more in Gabon to develop the communications network in the central African country. As per the company, Bharti will use the money to expand 3G and 4G telecommunications networks and on some social programmes in the country. Gabon aims to have a countrywide digital infrastructure by 2016, enabling the development of a wide range of e-services, which will give rise to a major qualitative improvement in social services and create the foundations for Gabon. With high hydrocarbon reserves and foreign investment inflows, Gabon counts among the more prosperous countries in Sub-Saharan Africa with a per capita income of nearly US$12,000. Bharti Airtel currently has operations in 20 countries across Asia and Africa.

We maintain our Buy rating on Bharti Airtel with a target price of Rs.328.

Source : Equity Bulls

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