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Bharti Airtel plans to list African unit to build war chest

Company looks at listing on a global stock exchange

  © Reuters

MUMBAI (NewsRise) -- Bharti Airtel plans a global listing of its African unit as India's largest mobile phone carrier seeks to beef up its war chest amid stifling price competition at home.

The mobile phone company, backed by billionaire Sunil Mittal, said the board of Bharti Airtel International Netherlands authorized its management to initiate discussions with banks to evaluate the possibility of listing the shares on an internationally recognized stock exchange. The discussions are at a preliminary stage, the company said in a statement to Indian stock exchanges late Wednesday.

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