Airtel had expressed an interest to acquire the Nigerian firm as part of plans to consolidate its position in Africa’s biggest telecoms market. “Airtel is not interested in 9mobile because it sees little value in the company,” one source said. No-one at Bharti Airtel in Nigeria or India was immediately available to comment. Bharti Airtel, headed by Indian billionaire Sunil Mittal, last year reported a 30.8% fall in first-quarter net profit, blaming an adverse foreign exchange impact in Nigeria. In October its users numbered 17.1 million, giving it a 12.2% market share, down from 20 million earlier last year, Nigerian telecoms regulator said.

Source: Mint January 31, 2018 03:33 UTC