Airtel says will keep evaluating various opportunities

By: GizBot Bureau

    Amid speculation that Bharti Airtel is looking to sell its operations in Sri Lanka and Bangladesh, the company today said it keeps evaluating various opportunities.In a clarification to the BSE, Airtel said it keeps evaluating various opportunities on an ongoing basis in ordinary course of business and will make necessary disclosure as and when required.

    Airtel says will keep evaluating various opportunities

    The exchange has sought clarification from the company with respect to reports that Airtel is likely to sell its telecom portfolio in Sri Lanka and Bangladesh as part of the strategy to move out of unproductive operations.

    SEE ALSO: GizBot Giveaway: We're Are Giving Away 25 OnePlus 2 Invites!

    The reports said Airtel has also appointed two lead bankers for sale of telecom operations. Airtel has about 2,500 telecom towers of Sri Lanka and 4,000 in Bangladesh.

    Airtel's revenue from operations in South Asia, which includes Sri Lanka and Bangladesh, stood at Rs 3.8 billion for the quarter ended June 30, 2015, a decrease of 11.1 per cent as compared to Rs 4.3 billion in the corresponding quarter last year, primarily due to lower minutes of usage.

    SEE ALSO: Apple To Hold An Event On Sept 9: 5 Major Announcements To Expect!

    EBITDA loss for the quarter was at Rs 476 million as compared to EBITDA of Rs 233 million in the corresponding quarter last year.

    Source PTI

    Read More About: airtel
    X

    Stay updated with latest technology news & gadget reviews - Gizbot

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Gizbot sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Gizbot website. However, you can change your cookie settings at any time. Learn more