TRENDING ON ONEINDIA
- "Prevent Black Day," Says Retired HC Judge
- Owning A Maruti Suzuki Is Now A Special Occasion — Here's How
- Mobiles Republic Day 2019 — Discounts On Best Smartphones
- From Kohli To Dhoni; Five Reasons Behind India's Win In 2nd ODI
- Every Place You Need To Visit If You Are A First-Timer In Una
- Strange Case Of A Woman Who Cannot Hear Male Voices
- Company Fixed Deposits In India Which Offer Yields Of Near 10%
- Emraan Justifies Himself After Calling Aishwarya 'Plastic'
The Indian telecom service provider, Bharti Airtel confirmed its decision to buy Alcatel-Lucent's stake completely. Alcatel-Lucent is a joint-venture company that currently manages the broadband network and fixed line network for Airtel.
The company as an initial step will acquire the stakes completely of Alcatel-Lucent India, which now owns a part of its stake. Alcatel-Lucent Managed Network Service in India began in 2009, during which the telecom major, Airtel owned a 26% stake in it. The remaining 74% in the unit was managed by Alcatel-Lucent's Indian arm.
A network contract was signed by both parties for a period of five years which is subjected to end in 2014 April. The financial details of the acquisition are not disclosed yet. After, the scheduled buyout, the firm will operate independent of Bharti. Other operators will be invited to join the venture in equity and broadband management after a certain period.
The planned buy-out of Alcatel-Lucent stakes is in view of Airtel's new business model to manage its broadband and fixed line networks. Shishir Kumar, the present CEO of the upper north region is also appointed the CEO of the joint-venture. The company is trying to break into new ground in the industry with this deal.
Bharati is one company that has revolutionized telecom industry with its innovative methods and is still on its way to do the same. The new model is expected to give users a better data experience across India. The company also said that it is trying to strengthen its transition by employing proven tools and processes.