Akhil Gupta News
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Bharti Airtel Ltd., India’s biggest telecom company, will revive a plan to sell its first bonds to reduce pressure on cash flows with 508 billion rupees ($9.3 billion) of loans due in the next four years.
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Bharti Infratel Ltd. will raise as much as 45.3 billion rupees ($831 million) in India’s biggest initial public offering in two years as billionaire Sunil Mittal seeks funds to expand his mobile-phone tower business.
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Bharti Airtel Ltd., India’s largest mobile-phone company, said its record overseas acquisition spree will test the operator “to the hilt” as it expands in 17 nations while earnings decline at home.
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Blackstone Group LP , the world’s biggest buyout firm, said it’s acquiring a stake in Moser Baer Projects Pvt. for $300 million, its largest investment in India.
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Mukesh Ambani doesn’t do small. He is the richest man in India. His company, Reliance Industries Ltd., operates the largest oil refinery complex ever built from scratch.
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The following are some of the important stories that broke overnight, and newspaper summaries in India today:
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Bharti Airtel Ltd.’s Akhil Gupta said Zain Africa will be headquartered in Nairobi and be rebranded to Bharti. Gupta was speaking to reporters in a conference in Delhi today.
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Bharti Airtel Ltd., India’s largest mobile-phone operator, reported fourth-quarter profit fell 8 percent after the nation’s phone companies cut prices to compete in the world’s second-largest wireless market.
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Blackstone Group LP plans to invest as much as $3 billion over the next five years in India, the Mint newspaper reported, citing Akhil Gupta, chairman and managing director of the Indian unit.
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Blackstone Group LP will invest 2.75 billion rupees ($59 million) to buy a 12.5 percent stake in India’s Monnet Power Co., the world’s biggest private-equity firm said in a statement today.
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