Airtel ready for acquisition talks with Aircel: Sunil Mittal
Mittal said that the debt-ridden Aircel has two options, either to join Vodafone-Idea or go ahead with Airtel.
November 29, 2017 / 10:43 AM IST
As the telecom sector consolidates, Bharti Airtel Chairman Sunil Mittal has said that his company is open to acquiring debt-ridden Aircel, in an interview with The Economic Times.
Speaking to the newspaper, Mittal said that Airtel was open to acquisition talks with Aircel. He added that Aircel has two options, either to join Vodafone-Idea or go ahead with Airtel.
"Whenever there will be a possibility of a conversation, I have no doubt, we will be a part of that conversation," he said.
Aircel's debt was earlier pegged at around Rs 18,000 crore but was partly adjusted after it sold its 2100 MHz spectrum to Airtel for Rs 3,000 crore.
In October, Reliance Communications (RCom) had called off its merger with the ailing Aircel, following legal and regulatory hurdles.
Last week, Aircel had denied media reports that it was shutting down in 14 circles and said that it was trying to build a profitable business.
Airtel's acquisition spree
In October, the company announced merger of its mobile operations with struggling Tata Teleservices. According to the deal, Airtel would acquire Tata's consumer mobile business in 19 circles.
The Sunil Mittal-led telecom firm had also fully acquired
Tikona Digital Network and bought Telenor's ailing Indian subsidiary, Telenor India.