When contacted, an Aircel spokesperson said: We are doing all it takes to develop Aircel into a leading brand in the Indian telecom industry. We are very positive and are heading in the right direction.
Insiders say Aircel has also been looking at splitting the company into two entities one to be the operating company and the other the network firm.
Aircel, owned by Malaysias Maxis and the Reddys of Apollo Hospitals, operates in all of Indias 22 telecom circles. But it has failed to make money in the country so far. For the first half of the 2012 calendar year, it posted a loss of Rs 724 crore in its Rs 3,898-crore income. During the previous calendar year, Aircel had incurred a massive consolidated net loss of Rs 6,247 crore on a total income of Rs 6,651 crore, compared with a net loss of Rs 2,868 crore on a total income of Rs 7,642 crore in 2010 (including Rs 1,800-crore profit from tower sale).
Earlier, there had been speculation that Aircel could be looking for a buyer. However, its previous managing director Sandip Das had told Business Standard the company was open to going for a strategic partnership that could include having financial investors but promoters would continue to hold a majority stake.
Rs 19,500 cr:
The loan Aircel had taken to build its network and buy 3G and 4G spectrum
Rs 10,000 cr:
Amount it spent on acquiring 3G spectrum
Rs 3,500 cr:
Total spend on buying BWA spectrum
Jan 30, 2012:
Aircel is not for sale