Bharti Airtel to support Saudi led consortium for Licence bid

With reference to reports in certain section of the media regarding the Bharti's bid for Saudi Arabia Licence, Bharti Airtel Ltd has announced that it is supporting the Saudi led consortium with a minority stake of 15% as stipulated by Communications and Information Technology Commission (CITC), The principal role of Bharti Airtel will be to provide comprehensive management services including negotiation with vendors, roll out of networks, brand building and distribution, setting up management processes and providing training and development under management services Agreement for which Bharti Airtel will get a management fee in addition to reimbursement of all actual costs.

Source : Equity Bulls

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