Bharti, Ericsson in phone line deal
Bharti Airtel, has struck a services deal with Sweden's Ericsson for some 60 million telephone lines over the next three years.india Updated: Jun 13, 2006 14:02 IST
India's top mobile services firm, Bharti Airtel Ltd, has struck a services deal with Sweden's Ericsson for some 60 million telephone lines over the next three years, an industry source said on Tuesday.
The deal is expected to be announced soon, another source said.
In February 2004, New Delhi-based Bharti had signed a three-year contract with telecom equipment maker Ericsson worth more than $400 million to build, manage and maintain GSM networks in several states.
Ericsson declined comment when contacted by Reuters and Bharti officials were not immediately available.
Bharti, owned 30.84 per cent by Singapore Telecommunications and Britian's Vodafone Group Plc with a 10 per cent holding, added about 1.2 million GSM users in May, taking its total to nearly 21.9 million customers.
India is the world's fastest growing cellular market, with the cheapest call rates in the world -- as low as 2-3 US cents a minute for a local call -- luring millions of customers each month.