Billionaire Mukesh Ambani is the latest to enter the crowded Indian cellular services market, the world’s second biggest. He is spending about $11 billion to get it right with a high-speed fourth-generation network.
Emerging-market stocks rose for a ninth day after reports showing an increase in U.S. payrolls and factory orders added to confidence the global economy is recovering. Brazil’s Ibovespa erased this year’s drop.
Kenya’s telecommunications regulator granted conditional approval to Safaricom Ltd. and Airtel Kenya Ltd.’s joint offer to buy Essar Telecom Kenya Ltd., two days after Safaricom threatened to pull out of the deal.
MTN Group Ltd., Bharti Airtel Ltd. and Orange SA are planning to sell mobile tower networks in Africa, the latest examples of telecom operators looking to reduce exposure to costly infrastructure in the region, according to people familiar with the matter.
Nigeria will reduce state control of its transport industry to help ease dependence on crude oil and attract investment in freight rail to move grain and limestone, the country’s privatization agency said.
India raised almost $10 billion from an auction of wireless spectrum that saw billionaire Mukesh Ambani’s Reliance Jio Infocomm Ltd. emerge as a potential competitor to Vodafone Group Plc and Bharti Airtel Ltd.