France Telecom wants to invest in India’s Aircel
By Dusan Belic on Thursday, June 25th, 2009 at 1:53 AM PST In General
After they’ve missed the opportunity to acquire TeliaSonera, France Telecom is looking elsewhere for growth. Since it keeps growing like crazy, India is logical choice and it’s right there where the French company wants to put its money.
Apparently, they are in talks with Malaysia’s Maxis which owns 74% of India’s Aircel. The idea is to pay anywhere between $1.4 and $2 billion to get a stake in India’s operator. According to The Economic Times, with its 19.6 million users and operations in 13 of India’s 22 service areas, Aircel is worth $7-$8 billion.
For the record, Aircel has recently outlined a $5 billion expansion program over the next three years, and I guess here’s the opportunity France Telecom is eyeing.
In the meantime, Maxis shareholder, Saudi Telecom is also looking to increase its holding in the firm from 25% to 35%.
We’ll see where this goes…
[Via: CellularNews]
