Airtel/ Sunil Bharti Mittal
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A profile
Airtel is the largest mobile phone operator in India, with 213 million subscribers and a 28.18 per cent share in the mobile telephony space.
He is the only Indian mobile provider with an international presence and acquired 2.7 million subscribers of the Kenyan telecom firm YuMobile in September, despite a net debt of Rs.60,000 crore in 2013-14.
He comes from a political family and has a keen interest in politics. Survived the first Ambani onslaught on his sector by Reliance and is now bracing for Mukesh Ambani's 4G launch.
Political animal
"The PM may not wear a skull cap, but that was done for 67 years and where are we?"
Swachh Bharti
He has pledged $16 million to building toilets in his home state, Punjab.
Airtel
2010’s $11Bn Foray into Africa ‘Was A Bit Rushed’
Pankaj Doval, ‘Entry into Africa one of my biggest regrets’, December 16, 2017: The Times of India
Our 2010 Decision To Make $11Bn Foray Was A Bit Rushed: Bharti Airtel Chairman Mittal
Bharti Airtel’s entry into the African market in 2010 — through a nearly $11-billion acquisition — was perhaps not correct and is one of “my biggest regrets”, says chairman Sunil Mittal, who has battled many a challenges in the highly competitive telecom business over two decades.
When Asked what is the one decision that he regrets the most in his professional life, the Bharti chief on Friday said, “If I had to look back, we should not have taken that decision.” He was responding to a query at the TiEcon Delhi event.
Airtel had ventured into the African market in 2010 with an ambitious and expensive purchase of Kuwait-based Zain Telecom’s assets there. But, it has still not managed to make the business profitable.
“We all must have made lots of mistakes. Lots of decisions, when you look back, I wish they were better thought through. But If you pin me down to one, I would say in 2010 our decision to go to Africa was a bit rushed and that has taken six-seven-eight years and lot of resources and my personal time to fix that.”
Mittal said the constant challenges in Africa, and efforts to turn around the business, have impacted the energy and cash flow of Airtel. “…I think if I would have conserved that capital and energy, (then) probably we would have been better-placed today in our home market.” Airtel currently runs a cumulative debt of over Rs 90,000 crore, a large part of which is due to the African purchase. However, Mittal said that things have been turning around. “In Africa, thankfully, it is a much better place today. It is cash-flow positive.”
He said work is constantly on to address African business. “Every entrepreneur comes to a point where you make some mistakes and the only thing is that you should recognise it, and try to fix it as fast as you can… having taken that decision, you need to back it, you need to fix it. It’s my job, it’s my team’s job to fix it.”
