Bharti Airtel to consider opportunities to buy another firm

Bharti Airtel to consider opportunities to buy another firmBharti Airtel will consider opportunities to buy another firm in India, given there is a clear merger & acquisition (M&A) policy in place, Bharti Group Chairman Sunil Mittal said.

Mr. Mittal also said that nobody in the country is capable of buying Airtel, the country's largest telecommunications firm.

Speaking on the topic, Mr. Mittal said, "I don't think so that there is anybody in India who can buy us... We will be looking at opportunities (for consolidation) but for that a clear M&A policy which has the objective of being an enabler for consolidation is required."

He added that the company's partner SingTel's chairman recently said in a statement that he would like Airtel to emerge as the consolidator in the market.

Telecom firms have eagerly been waiting the government's final guidelines on M&A for the sector. Currenty, India has 13 telecom operators, and some of them are widely expected to opt for consolidation once the government's final M&A guidelines are in place.

Airtel boasts to have more than 192 million subscribers as of end of August. As on 1st of October this year, the firm had a market capitalization of Rs 1.28 lakh crore.