India's leading telecom service provider, Bharti Airtel has said that it is planning to acquire the entire stake of Alcatel-Lucent in their joint venture.
The joint venture firm, Network Service India manages the fixed-line and broadband networks of Airtel. Bharti said in a statement that it has adopted a new business model for managing its fixed line and DSL broadband networks on the lines of Indus Towers. Bharti Infratel, the telecom tower arm of the company, holds a 42 per cent stake in Indus Towers. Vodafone too holds a 42 per cent stake while others hold 16 per cent stake in the tower firm.
The company will work independent of Bharti and will also invite other telecom partners for equity investment. This will integrate the management of broadband and fixed line network of service providers.
The company said in a statement that, "The operations of the entity will be strengthened by the transition of proven tools, processes and all manpower and skilled resources from the existing joint venture."
Bharti has appointed Shishir Kumar, who is working as the CEO for up-north , as the new head of the fixed-line and broadband networks entity.
- Marathon Pharma to sell decades-old drug to treat DMD for $89,000
- FedEx Launches FedEx Fulfillment for Small Business to Compete with Amazon
- CDC updates 2017 advisory for recommended flu shots
- Coca-Cola Helped by Strong North American Demand but Company Issues Lackluster Future Guidance
- Women with dense breasts more likely to develop breast cancer: study