They can’t be serious, Airtel planning on leaving Africa Market due to some collapses in their financial earning! Last year, Airtel lost a great deal of customer both in Nigeria and other Africa Countries.
Airtel Considering Exits, Stake Sales at Some Africa Operations! Although, Mittal says rationalization could be completed within a year and also added that Airtel will not completely exit the African market.
Bharti Airtel Ltd., India’s largest mobile-phone operator, is considering mergers or stake sales at some of its Africa operations as it looks to cut debt and make its biggest overseas acquisition profitable.
However, the moves would pare the size of operations in the continent and could be completed within a year, Chairman Sunil Bharti Mittal added.
According to source, Bloomberg, Airtel is currently faced with an escalating price war in its home market, Bharti is looking for ways to pare net debt equivalent to about $12 billion as of September.
The company has sold its Sierra Leone and Burkina Faso operations, as well as some of its tower businesses, as it reorganizes assets it bought in 2010 in a $9 billion deal with Kuwait’s largest mobile-phone operator.
Meanwhile, the Bharti’s African unit lost $91 million in the quarter ended September, compared with a $170 million loss in the previous year.
Airtel can’t leave like that not after everything, not after sponsorship. Not after being with us. They can atleast try to stay and compete once more time with other Telecom in Nigeria.