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Bharti Airtel: Refinancing of high-cost spectrum debt will help Airtel save on annual interest costs, fortify its balance sheet, and boost cash flows even as it rapidly expands 5G coverage and looks to offer the next-gen mobile broadband services nationally in a few months, people aware of the matter said.
India's second-largest telco is likely to engage with top global banks including Barclays and Citi later this month to decide on the preferred fundraising mode and pricing, people aware of the matter said.
This 90-minute cinematic masterpiece has captured the hearts of audiences across the globe as it traveled through various film festivals and online platforms. Now, starting from November 3, 2023, it will be accessible to viewers in Bangladesh through the OTT platform Chorki.
Bharti Airtel has stated that it will not purchase expensive 700 MHz spectrum in the next 5G spectrum sale. Instead, the company will focus on acquiring small chunks of spectrum in markets where its current holdings are expiring. Airtel plans to repurpose its mid-band airwaves for 5G services once a larger percentage of smart devices become 5G-enabled. The company's management also emphasized the need for tariffs to increase in order to raise average revenue per user (ARPU), and expressed hope of reaching an ARPU target of Rs 300 in the future.
The company added that it will refarm its mid-band airwaves (read: 1800 MHz and 2100 MHz) once 25-30% smart devices in circulation become 5G-enabled from around 10-12% now, according to BofA Securities, which participated at SingTel’s analyst day event that hosted Bharti Airtel CEO Gopal Vittal and CFO Soumen Ray.