Bharti Airtel To Invest 10 Million For Augmenting Telecom Seychelles services (17-Aug-2010)
India’s largest telecom operator, Bharti Airtel, is planning to invest $10 million in its newly acquired telecom network in Seychelles, which will also include the contribution in the Seychelles East Africa submarine cable (SEAS) project, a 2,000 km submarine cable between Seychelles and the Tanzanian city of Dar es Salaam, which will connect Seychelles to the world and the global economy.
The said project is estimated to enhance the services offered to large enterprises and will further improve Telecom Seychelles world-class mobile services. At present, Telecom Seychelles offers 3G mobile and integrated wireless services across the island nation under the Airtel brand and has over 57% share of the mobile market.
The acquisition of Telecom Seychelles has grown Bharti Airtel’s African expansion to 16 countries and its overall presence to 19 countries. The company had recently acquired the mobile operations of the Zain group in 15 countries across Africa.
Bharti Airtel had reported a net profit of Rs 1,930.90 crore for the quarter ended June 30, 2010 as compared to Rs 2,687.50 crore for the quarter ended June 30, 2009, down 28.15%. Total income, however, rose by 3.51% during the quarter under review to Rs 9,373.70 crore from Rs 9,056.20 crore for the corresponding quarter of the previous fiscal.
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