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Bharti Airtel Ltd - Company Report
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Company Reports are concise reports that provide a review of the company's activities, corporate strategy and recent developments.
Bharti Airtel Ltd is one of India’s leading private sector providers of telecommunications services with an aggregate of 33.71 million customers at the end of December 2006, consisting of 31.97 million mobile customers and 1.74 million broadband and telephone service customers. With effect from April 24, 2006, the name of the company was changed from Bharti Tele-Ventures Ltd (BTVL) to Bharti Airtel Ltd. Bharti Airtel is structured into three strategic business units - Mobile Services, Broadband & Telephone (B&T) Services and Enterprise Services. The Mobile business provides mobile and fixed wireless services using GSM technology across 23 telecom circles. The B&T business provides broadband and telephone services in 94 cities. The Enterprise services business provides end-to-end telecom solutions to corporate customers and national and international long-distance services to carriers. All these services are provided under the Airtel brand. Airtel’s high-speed fibre-optic network spans over 39,000kms covering all the major cities in the country. The company has two international landing stations in Chennai that connect two submarine cable systems - i2i to Singapore and SEA-ME-WE-4 to Europe. The equity shares of Bharti Airtel are listed on the National Stock Exchange of India Ltd (NSE) and the Stock Exchange, Mumbai (BSE). As of December 30, 2006, the main shareholders of Bharti Airtel were: Bharti Telecom Ltd (45.36%), a subsidiary of Bharti Enterprises; Singapore Telecom (15.60%), through its investment division Pastel Ltd; Vodafone International Holding BV (5.62%); Citigroup Global Markets Mauritius Pvt Ltd (1.60%); Morgan Stanley & Co International Ltd (1.50%); Life Insurance Corporation of India (1.30%); The Growth Fund of America Inc (1.11%); CLSA Merchant Bankers Ltd A/C CLSA (Mauritius) (1.34%); and, Merrill Lynch Capital Markets Espana SASV (1.07%).
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