Airtel Planning To Raise Overseas Loans For Network Expansion

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Source : khabarindiatv.com

Bogged down by intense competition from Reliance Jio in the highly competitive mobile phone service market and concerned about the looming merger between Vodafone India and Idea Cellular, Bharti Airtel is on a lookout for overseas loans of about US$ 1 billion to refinance its high cost debt as well as boost its 4G mobile phone technology network.

In only about two years since its entry in the mobile telephone sector, Reliance Jio has managed to garner about 215 million customers. Airtel’s customer base stands at 304.9 million subscribers as of March, 2018 which is followed by Vodafone India’s 222.69 million customers and Idea Cellular’s 211.2 million customers.

Reliance Jio is aggressively raising funds at a quick pace. It raised US$ 360 million through the sale of domestic corporate bonds which was followed by tapping the Korean credit market to raise US $1 billion.

After their merger comes through, Vodafone and Idea are also expected to raise funds to expand their 4G network.

Source: www.atimes.com

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