Weekly 2<br />News updated<br />13-09-2010 to 19-09-2010<br />Compiled by :<br />NavneetSuri<br />Mba- 2(a)<br />
IBM to handle IT for BhartiAirtel's Africa operations<br />The 10-year deal will involve IBM consolidating Airtel’s IT operations in Africa into one integrated system. The US firm also handles Bharti’s information technology requirements in India, Sri Lanka and Bangladesh under a 2004 deal, which is estimated to worth at least $3 billion. <br />
BhartiAirtel had invited bids for the deal in April-end, suggesting it is looking for a better deal than the one offered by IBM in India<br />BhartiAirtel had invited bids for the deal in April-end, suggesting it is looking for a better deal than the one offered by IBM in India<br />
Four funds eye Honda's stake in Hero Honda Motors<br />KKR & Co, TPG Capital, Carlyle Group and Bain Capital LLC are competing to acquire a part of Honda Motor Co's stake in India's biggest motorcycle maker, Hero Honda Motors<br />Two of the funds may jointly buy about 15 percent, valued at $1.1 billion in Hero Honda.<br />Another 5 percent may be sold to the Munjal family, founders of the Hero group, the report said, citing two unidentified people. Honda<br />
Bharti to sell African tower ops to own arm for Rs. 15,000 crore<br />BhartiAirtel will sell mobile phone towers of its African operations to its arm BhartiInfratel, raising badly-needed cash & taking a big step towards replicating the outsourced business model.<br />The deal is expected to be sealed for rs 12000-15000 crore by Dec 2010.<br />
BhartiInfratel will in turn raise the money by selling stakes to sovereign and private equity funds and it owned 90% by India’s largest cellphone service provider.<br />Borrowing to funds the acquisition as well as launch of 3G services in India have burdened the company with debt of around rs 65,000 cr.<br />Number of users in Africa fell to 36 million from the 42 million it claimed when the acquisition was announced.<br />
BhartiAirtel has started separating the tower business in the 15 African countries and will consolidate them under one overseas company.<br />BhartiInfratel will accquire this company for $ 2.5-3billion.<br />
Rayat-Bahra Group to open aviation institute in North<br />Company is likely to get into a joint venture with the government of Madagascar.<br />Madagascar government has agreed to provide one fully-functional airport with a fleet of 380 aircrafts to give practical training to the budding pilots.<br />
Rayat-Bahra group also has ambitious plan to set up Medi-campuses in Mohali and Hoshiarpur at a cost of rs 500 crore in the coming five years<br />The group presently runs a successful chain of 26 technical and profesional institutes across three campuses at Mohali, Ropar and Hoshiarpur<br />Chairman- Gurvinder Singh Bahra<br />
Govt may grant airlines’ debt wish<br />DEA says Airlines should be allowed to use External Debt to Repay Domestic Loans.<br />If committee decides in favour of the airlines, it may have to face the same demand from other sectors.<br />A change in guideline will benefit Jet Airways, Indias largest airline by market sharewhich has sought approval from the RBI or RBI to raise $750 million mostly to refinance its domestic debt to reduce cost of borrowing<br />According to senior finance ministry official some relaxation in the policy could be done.DEA –Department of Economic Affairs<br />
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