Friday, February 26, 2010

Bharti CEO Says Africa Has Potential

While explaining the rationale for buying Zain, Africa was described as a potential emerging market by Sunil Bharti Mittal, founder Chairman and Group CEO, Bharti Enterprises.

The need of globalisation for Bharti has also been explained by him as Indian operations were generating free cash flows. While defending his decision to enter into talks with the Kuwait telecom major, he made it clear that competitive intensity is low for Zain in most countries and the valuations offered are fair and reasonable.

According to Bharti officials, Africa had good growth opportunities among emerging markets, given its high population, lower mobile penetration and relatively less competition and the tariffs too, in Africa are more than 10 times India.

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