Indian telco Bharti Airtel has acquired Alcatel-Lucent’s stake in their joint venture which manages the former’s network services.
In an announcement to the Bombay Stock Exchange today, Bharti said that it had acquired the telecoms equipment…
Indian telco Bharti Airtel has acquired Alcatel-Lucent’s stake in their joint venture which manages the former’s network services.
In an announcement to the Bombay Stock Exchange today, Bharti said that it had acquired the telecoms equipment maker’s entire equity stake in Alcatel Lucent Managed Network Service India, making the company its wholly-owned subsidiary.
As part of the announcement, the mobile carrier referred to a 1 February press release in which Bharti said it would introduce a new business model for managing fixed line and broadband networks following the acquisition.
“[The newly acquired subsidiary] will operate independent of Bharti and going forward, will invite other operators to join in with equity participation and bring the management of their broadband and fixed line networks under its fold,” said the announcement.
Shishir Kumar, CEO – Upper North at Bharti Airtel has been appointed CEO of the new entity.
“Bharti pioneered the outsourcing model that helped revolutionise the telecom industry and with this innovative model we are breaking new ground in an industry which is on the cusp of a massive data growth,” said Sanjay Kapoor, CEO – India & South Asia, about the new operations. “This new model, along with our recently launched Network Experience Centre, will provide us [with] greater control over the delivery of a world-class data experience to customers across our portfolio of networks.”
