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Airtel might raise at least $3 billion from asset sales by end-2019, says Fitch Ratings

February 04, 2019
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As per Fitch Ratings, Bharti Airtel might raise at least $3 billion from its planned asset sales in the next 12 months.

Further, Fitch Ratings believes that the recent introduction of minimum recharge plans by incumbent operators, along with higher data usage and easing competition posed by Reliance Jio Infocomm Limited, will lead to an increase in average industry tariff by at least 10 per cent to $1.6 in 2019.

To this end, Fitch estimates Bharti Airtel’s revenue and earnings before interest, taxes, depreciation, and amortisation (EBITDA) will improve during financial year 2019-20 as a result of rise in data usage and tariffs.

In addition, Fitch expects Airtel to raise about $1.1-1.2 billion through the upcoming initial public offering (IPO) of its Africa unit in mid-2019 and additional funds through the sale of its stake in the future Indus-Infratel merged tower entity.

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