Bharti Airtel welcomes Vodafone's acquisition of Hutch Esssar

Published: Monday, February 12, 2007, 6:32 [IST]
 

New Delhi, Feb 12 (UNI) Welcoming Vodafone's acquistion of Hutchison Essar, Chairman and Managing Director, Bharti Airtel Limited, Sunil Bharti Mittal has said they have entered into a comprehensive memorandum of understanding (MoU) on a range of significant areas including infrastructure sharing, roaming and long distance services.

Meanwhile, Vodafone would sell a 5.6 per cent stake in Bharti Airtel to Bharti for 1.6 billion dollars, a company statement issued here late last night said.

Bharti Airtel will be preferred vendor of Vodafone for NLD, ILD and leased line services and Vodafone will also give 50 per cent of its in-bound international roaming traffic to Bharti Airtel for three years, the statement added.

The two companies will also work on a comprehensive range of significant infrastructure sharing options including around 70,000 towers in India, enabling rapid network expansion to connect sub-urban and rural areas across India.

UNI

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