Bharti Airtel welcomes Vodafone's acquisition of Hutch Essar

Bharti Airtel Ltd has announced that in continuation of its strong relationship, the Company & Vodafone have entered into a comprehensive Memorandum of Understanding (MoU) on a range of significant areas including infrastructure sharing, roaming and long distance services.

The Company will be preferred vendor of Vodafone for NLD, ILD and leased line services. Vodafone will also give 50% of its in-bound international roaming traffic to the Company for three years. The two companies will also work on a comprehensive range of significant infrastructure sharing options including around 70,000 towers in India, enabling rapid network expansion to connect sub urban and rural areas across India.

Sunil Bharti Mittal, Chairman & Managing Director of the Company, said, "We are pleased to welcome Vodafone and congratulate them on their Hutch acquisition. Today, the Indian telecom sector is one of the most sought after in the world and the bid is a strong endorsement of the government policy to promote the telecom sector."

"Bharti and Vodafone have enjoyed a very fruitful partnership and both companies will work with the industry towards connecting millions of people across India."

Source : Equity Bulls

Keywords