Thanks to stake in Airtel. Bharti Telecom, which controlled 39.37% of Bharti Airtel as of March 31, 2024, is 50.56% owned by the Mittal family, while Singtel owns 49.44% of the holding company. Singtel holds 9.56% of Bharti Airtel directly, while the … | By atans1 on 05/07/2024 | Thanks to stake in Airtel. Bharti Telecom, which controlled 39.37% of Bharti Airtel as of March 31, 2024, is 50.56% owned by the Mittal family, while Singtel owns 49.44% of the holding company. Singtel holds 9.56% of Bharti Airtel directly, while the Mittal family owns 4.53% through a firm called Indian Continent Investment Ltd. Singtel has been selling its stake. Indian mobile operators eye greater revenues This year India's Jio became the world's biggest mobile operator in terms of data use. The firm's 108m customers consumed 40.9 exabytes (roughly 44bn gigabytes) between January and March. The gorging was driven by cheap tariffs, which have helped Jio become India's market leader. The policy has also forced others to slash rates, making Indian data prices among the lowest in the world. The average cost of 1GB of data in India is just $0.16, compared with $0.38 in China or $6 in America. But the era of dirt-cheap data may soon be ending. On Wednesday Jio increased tariffs by around 20%, as did Airtel, its biggest competitor. Indian operators are hoping to boost revenues after collectively splurging more than $20bn over the past year or so to expand their 5G networks. Investors are pleased. The announcements caused shares in Reliance Industries, Jio's parent company, and Airtel to jump. Economists's The world in brief | | | | You can also reply to this email to leave a comment. | | | | |
No comments:
Post a Comment