New Delhi: Bharti Airtel today said it has selected Swedish telecom equipment maker Ericsson and Huawei of China as vendors to deploy, expand and manage its mobile network in Bangladesh, reports PTI.
Sunil Mittal-owned Bharti Airtel had acquired a 70% stake in Warid Telecom for $300 million (about Rs1,363 crore) earlier this year. Warid has a user base of over 3 million in Bangladesh.
Bharti declined to share financial details of the partnership. Under the contract, Ericsson will deliver and manage a majority of the company's network capacity and Huawei will swap the existing radio network in the eastern areas of Bangladesh, Bharti said.
These partnerships will ensure that the networks are 3G-ready, in order to enable the quick roll-out of third generation services at a later date. This will enable Bharti to extend its network further across the country, to provide better and affordable services, the company said.
The agreement is modelled on Bharti's successfully-managed network business model in India and Sri Lanka.
Bharti Airtel added over 2 million subscribers in August and has a total user base of 141.25 million in India.
With the acquisition of Warid and Zain in Africa, Bharti now operates mobile services in 19 countries across Asia and Africa and is now the world's fifth-largest mobile carrier by subscribers.
Kolkata: The government has decided to create a national register of business aimed at capturing every single commercial activity in the country to ultimately pave way for keeping more accurate statistical data of economic activities, reports PTI.
"We are planning a National Register of Business to keep track of every single commercial activity - both big and small - in the country," secretary to the ministry of statistics and programme implementation TCA Anant said here today on the sidelines of a workshop on annual survey of industries.
To make it possible, the new economic census will now cover the services sector, including micro home businesses and small kirana stores.
The work on economic census will begin from June-July, 2011, and is expected to finish by the end of FY 2012 expectedly making 2004-05 as the base year, Mr Anant said.
A national register of business will lead to switching from the annual survey of industries to the annual survey of business.
The annual survey of industries will only capture industrial production under the Factories Act, but now the government wants to capture the services sector too, which currently falls under the Shops and Establishment Act.
"We wish to aim for an annual survey of business instead of being restricted to industrial output," Mr Anant said.
However, he did not like to make any commitment on a timeframe for putting it in place.
New Delhi: Corporate India announced merger and acquisition (M&A) deals worth $601 million in the month of September taking the year-to-date total to over $42 billion, reports PTI quoting a report by consultancy firm Grant Thornton.
Though the number of merger and acquisition deals in the country more than doubled in the month of September, from 23 to 57, the total deal value remained more or less the same.
According to Grant Thornton's latest Deal Tracker, there were as many as 57 merger and acquisition transactions worth $601 million, while in the year-ago period there were 23 deals worth $597 million.
"Inspite of the high level of activity in M&A closing 57 deals in September 2010, the deal values have been significantly lower at $600 million, compared to increased momentum seen during the first seven months of the year," Grant Thornton's partner (specialist advisory services) C G Srividya said.
The deal sizes have been small or negligible and there have been only two M&A deals reported valued at over $50 million. Most of the action has been in hospitality, power & energy and infrastructure related sectors, Ms Srividya added.
The total value of 82 deals, including (M&A, private equity and qualified institutional placement) announced in September 2010 was $1.49 billion.
Domestic merger and acquisition deals were the flavour of the month with transactions worth $380 million. The total value of outbound deals - wherein Indian companies acquired businesses outside India amounted to $210 million, while in inbound deals, wherein foreign companies acquired Indian businesses amounted to $10 million.
Giving further details the report said there were 15 outbound deals worth $210 million, compared to $10 million through nine deals in September 2009.
In September 2009, there were 11 domestic deals worth $580 million, while inbound deals constituted only a minuscule chunk with $4 million worth of M&A deals through three deals.
The top merger and acquisition deal in September this year, was Reliance Industries' (RIL) 14.12% acquisition in EIH Ltd for $217.23 million.
Other major deals include KEC International's acquisition of SAE Towers for $95 million, followed by Reliance ADAG's 15% stake buy in KGS Developers for $47.87 million.
The top five M&A deals accounted for 71% of the total deals value, Grant Thornton said.
A sector wise analysis shows that hospitality was the most targeted sector, as it attracted deals worth $224.47 million followed by power and energy ($95 million), IT & ITeS ($86.65 million), real estate ($47.87 million) and banking and financial services ($31.79 million), the report said.