MTN
Mukesh Ambani faces pushback in Ghana over exclusive 5G deal
The Ghanaian government’s plan to launch a 5G network using a company partnering with Mukesh Ambani is a bad deal for the debt-ridden nation, which needs funds for critical development projects, the National Democratic Congress (NDC) said in a statement on Monday.
Another Ambani vs Mittal battle? A look into Airtel's African empire
Bharti Airtel's African venture has been a rollercoaster ride, starting with a bold move by chairman Sunil Mittal in 2008. Despite initial struggles, Airtel Africa has managed to establish a strong presence in 14 countries. Meanwhile, Mukesh Ambani's Reliance Industries is making inroads into the African telecom market with 5G infrastructure solutions. As Airtel Africa faces currency woes, the stage is set for a potential showdown between the two telecom giants.
Airtel's perilous safari: How Sunil Bharti Mittal conquered Africa
Sunil Bharti Mittal, Chairman of Bharti Enterprises and founder of Bharti Airtel, has urged the world to invest in Africa, calling it the last continent of hope. Mittal's own experience with Airtel's operations in Africa has given him insight into the continent's potential. Airtel Africa struggled initially, but has since turned around its business through rationalization, debt reduction, and network expansion. The company aims to become the leading player in the African market, benefiting from low user penetration and increasing data usage.
Airtel Uganda to raise $216 mn via 20% stake sale in IPO
The Airtel Uganda IPO, reportedly the African nation's biggest share sale, opens Wednesday and closes on October 13. The company's shares will be listed October 31 on the Uganda Securities Exchange, according to the share sale documents. Once the listing is concluded, Airtel Uganda will be the second listed telco on the Uganda stock exchange after MTN Uganda – majority controlled by South Africa’s MTN Group – which was listed in December 2021.
Mastercard to buy stake in MTN's fintech unit
Mastercard has agreed to take a minority stake in the financial-technology business of MTN Group, the largest wireless carrier in Africa, which the latter values at $5.2bn. Shares in MTN rose as much as 10%, following the announcement. The deal will be structured in two parts: a commercial agreement to use Mastercard's technology infrastructure to develop MTN's offerings and the investment into a minority stake.
US: At least 5 die after vehicle pileup on Montana highway
Gov. Greg Gianforte said on Twitter: "I'm deeply saddened by the news of a mass casualty crash near Hardin. Please join me in prayer to lift up the victims and their loved ones. We're grateful to our first responders for their service."
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Yes Bank seeks shareholders' nod for raising up to Rs 10,000 cr debt capital
The bank said it plans to borrow the funds through debt securities including nonconvertible debentures, MTN (Medium-Term Notes), bonds (including forming part of tier I/II capital). It may also include long-term infrastructure bonds or such other securities, including securities to be issued from its offshore branches and/or the IBU (IFSC Banking Unit) situated at the GIFT City IFSC.
Financial investments like stocks can realign people’s incentives to have peaceful societies: Saumitra Jha
This idea, of realigning the incentives of critical groups and making them pro-development, is very powerful — and financial markets are an excellent way to do this at scale, says Saumitra Jha.
Telecoms major Airtel Uganda plans IPO by 2022-end: MD
The company renewed its operating licence in 2020, with one of the conditions for the new licence being Airtel Uganda to list at least 20% of equity on the local bourse.
Adani Electricity Mumbai lists USD 2-bn global medium term note on India INX
In market parlance, the medium-term note refers to a debt note that usually matures in 5-10 years.
IDBI Bank terminates rating agreement with S&P Global for MTN bond programme
S&P Global Ratings has affirmed its 'BB' long-term and 'B' short-term foreign currency issuer credit ratings on IDBI Bank with negative outlook, the bank said in a regulatory filing.
Airtel plans to exit Ghanaian telecom market
Bharti Airtel’s Africa operations clocked in a net profit of $88 million for the second quarter this fiscal, down 8.3% on-year, hurt by higher net finance costs. But consolidated revenue stood at $965 million, increasing 14.3% from corresponding quarter last year.
Promoter goes for bottom fishing in this stock as shares crash 65% in March
Gehlaut bought 24 lakh shares from the open market at Rs 96.33 apiece.
Moody's upgrades YES Bank rating by a notch; outlook postive
Earlier in the day, YES Bank announced that seven banks led by SBI have invested Rs 10,000 crore, boosting its core capital,
PFC lists $750 million MTN issue on India INX
The notes under the programme have been issued at a coupon rate of 3.95 per cent.
ONGC lists $300 million MTN issue on India INX
The notes under the programme have been issued at a coupon rate of 3.375 per cent due in 2029.
YES Bank tanks 10% on Moody's downgrade, negative outlook
Moody's downgraded YES Bank's long-term foreign currency issuer rating to B2 from Ba3.
Moody's places YES Bank rating under review for downgrade
The bank's weakening financial position can be offset by planned fundraising, says Moody's.
Muthoot Finance raises $450 million in debut dollar bond sale
Muthoot Finance plans to use the proceeds for both refinancing and other business purposes.
NBFCs bond with world, Muthoot Finance eyes $450 million
The firm reported 8% rise in its net profit at Rs 530 crore in the April-June quarter this year.
Moody's cuts Indiabulls Housing to B2; outlook remains negative
The downgrade was driven by Indiabulls' ongoing challenging access to funding.
YES Bank climbs 3% as board considers fund raising
The board meeting has come at a time when Moody’s downgraded the lender’s rating.
YES Bank’s $300 million QIP subscribed 1.4 times
The issue will lead to about 10 per cent equity dilution, ET NOW reported.
NTPC launches MTN issue to raise $450 million
The issue would close on April 3. The funds raised through this issue will be used for capital expenditure by the company.
REC lists its first global notes worth $700 million on India INX
The 5-year bond has an annual yield of 5.25 per cent maturing on November 13, 2023.
NHAI lists Rs 25,000 crore bond issue on India INX
This is the first rupee-denominated MTN programme of its kind globally by an Indian statutory body.
Bharti Airtel to shake up Africa operations by reducing headcount
Bharti Airtel is shaking up operations in Africa, where some 20 senior executives are moving out as the world’s third-largest carrier takes steps to reduce headcount
Bharti Airtel starts first cross-border mobile money transfer in Niger
Bharti Airtel today launched a cross-border money transfer service for its mobile wallet customers in Niger.
Airtel hires senior MTN executive Wim Vanhelleputte as its new executive director in Africa
Bharti Airtel named Wim Vanhelleputte its new executive director for a key business unit within Africa, a region where Airtel is still struggling.
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