Africa call: Sunil Mittal redials

Will it be third-time lucky for telecom czar Sunil Mittal? As he makes his third bid in as many years for a big acquisition in Africa, analysts say Mittal has a strong chance of realising his dreams of taking Bharti Airtel into the international arena.

The mobile firm has entered $10.7 billion talks aimed at taking over most of Kuwaiti telecom Zain's assets in Africa. The move follows two failed attempts to agree a $24 billion tie-up with South Africa's MTN Group.

"Mittal loves challenges and this time he'll be able to take them head-on after having learnt his lessons during the failed attempts to acquire MTN," said Rishi Sahai, director at Cogence Advisors, a cross-border M&A advisory firm.

"He is likely to play his cards very carefully this time."

Image: The Chairman and Managing Director of Bharati Airtel, Sunil Bharti Mittal, gestures at a press conference.

Text: Reuters

Also see: Maruti to phase out 800

Images courtesy: Getty / AFP