Bharti Airtel scouts for new partner in South Africa

Bharti Airtel is still eager to enter the South African market despite its failed merger with MTN in May. The company announced yesterday that it is scouting around for a similarly-sized takeover target
According to Business Standard the move would turn Bharti into a global brand.

In May this year, Bharti and MTN came close to a deal, but were thwarted by differences in opinion. Now, says Akhil Gupta,the CEO of Bharti, the company is looking for partners with strength in rural areas to lead it to future growth. While rumours persist that Bharti still wants to target MTN, Gupta commented that presently the company’s interests only revolve round the low-cost business.
Gupta added that the company does not have any plans for acquisitions within the country, since there are no players left of reasonable size, thanks to consolidation. He said he expects Bharti Airtel to be efficient in terms of cash flow, after spinning off its tower unit and other assets into a separate arm called Bharti Infratel. He also said the company is entering into a venture with Vodafone Essar and Idea.

By Samuel Mungadze