Can you take us through the journey you undertook towards securing the stake in BT?
I remember speaking to our chairman (father Sunil Bharti Mittal) about BT maybe four or five years ago when the stock was at 1 pound, and very shortly thereafter, it ran up to 2 pounds. We had thought the opportunity had gone for us to get a sizeable chunk of this company and decided to just keep monitoring this business, as we do with other investments.
How long did it take to close the deal?
When the opportunity came to us a couple of weeks ago, we moved really fast. I think we've done this entire deal end to end in may be two or two and a half weeks.
What was the toughest part of striking this deal?
It was getting our heads around the regulatory approvals that are needed for a unique asset like BT....
Can you elaborate on financing of the $4-billion deal with BT?
The deal is fully funded through our balance sheet, as a mix of equity and debt, as we've disclosed.
From Harvard and Softbank to Unbound and Bharti Global, is this how you had planned it out for yourself?
Bu hikaye Business Standard dergisinin August 15, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin August 15, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
FY25 as weak-earnings year is gradually getting priced in
Even as many blame record foreign portfolio outflows for the market downturn, the real culprit is weak earnings amid rich valuations, says GAUTAM CHHAOCHHARIA, head of global markets, India, UBS. In an interview with Samie Modak in Mumbai ahead of the UBS India Summit, Chhaochharia highlights that 2024-25 (FY25) weak earnings growth is now factoring into market expectations. Investors are shifting their focus to the actions of the Reserve Bank of India (RBI) and the central government, as well as the outcome of upcoming state elections. Edited excerpts:
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