India’s Bharti Enterprises Pvt., which six months ago ended a tie-up with Wal-Mart Stores Inc., is in talks with France’s Carrefour SA and Japan’s Aeon Co Ltd. for two separate joint ventures, according to one person familiar with the discussions.
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.
Bharti Airtel Ltd., India’s largest mobile-phone operator, will sell a 5 percent stake to the Qatar Foundation Endowment for $1.26 billion after the carrier posted quarterly profit that missed estimates.
India got bids totaling 446.1 billion rupees ($7.12 billion) on the first day of a wireless spectrum auction yesterday, the third effort by the government to raise revenue from the sale of airwaves in the last 15 months.
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.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Indian phone carriers plunged after Credit Suisse Group AG downgraded Bharti Airtel Ltd., the No. 1 operator, and another company on concern competition from Reliance Industries Ltd. will erode earnings.