There is nobody in India who can buy Airtel: Sunil Mittal

Oct 03 2013, 08:53 IST
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Bharti Group chairman Sunil Mittal (Reuters) Bharti Group chairman Sunil Mittal (Reuters)
SummaryReady for acquisitions in India but need clear M&A policy, says Bharti group chairman.

Asserting that there is nobody in India who can buy Airtel, Bharti group chairman Sunil Mittal today said the telecom firm will look at opportunities to acquire another company in India, provided that there is a clear merger and acquisition policy in place.

I dont think so that there is anybody in India who can buy us ..., Mittal said here when asked about the new M&A norms in the works and as to whether his company would be the biggest buyer or the biggest seller.

However, he added: We will be looking at opportunities (for consolidation) but for that a clear M&A policy which has the objective of being an enabler for consolidation is required. Airtel is Indias largest telecom company with 192.22 million subscribers as of August-end. The company had a market capitalisation of Rs 1.28 lakh crore as on October 1.

Mittal also said his firms partner SingTel would like Airtel to be a consolidator in the market.

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