Jump to content

Sunil Mittal: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous editNext edit →
Content deleted Content added
VisualWikitext
→‎Entrepreneurial Ventures: added the talks with mtn
Line 43: Line 43:
He was one of the first Indian [[entrepreneur]]s to identify the mobile telecom business as a major growth area. His plans were finally approved by the Government in 1994 [http://www.youtube.com/watch?v=NU39b9g1oOo&feature=related] and launched services in [[Delhi]] in 1995, when Bharti Cellular Limited (BCL) was formed to offer cellular services under the brand name AirTel. Within a few years Bharti became the first telecom company to cross the 2-million mobile subscriber mark.[http://www.4to40.com/legends/index.asp?id=706] Bharti also brought down the STD/ISD cellular rates in India under brand name 'Indiaone'.<ref>http://www.bharti.com/51.html?&tx_ttnews[pS]=1233037160&tx_ttnews[tt_news]=126&tx_ttnews[backPid]=41&cHash=b25abfae43</ref> IndiaOne was India’s first private national as well as the international long-distance service provider<ref>http://askmeany.com/2009/09/23/sunil-mittal-2/</ref>, and, thus, became a major factor in Bharti's success by providing services cheaply.<ref>http://www.topnews.in/bharti-airtel-launches-indiaone-offer-call-us-1-centmin-2150295</ref>
He was one of the first Indian [[entrepreneur]]s to identify the mobile telecom business as a major growth area. His plans were finally approved by the Government in 1994 [http://www.youtube.com/watch?v=NU39b9g1oOo&feature=related] and launched services in [[Delhi]] in 1995, when Bharti Cellular Limited (BCL) was formed to offer cellular services under the brand name AirTel. Within a few years Bharti became the first telecom company to cross the 2-million mobile subscriber mark.[http://www.4to40.com/legends/index.asp?id=706] Bharti also brought down the STD/ISD cellular rates in India under brand name 'Indiaone'.<ref>http://www.bharti.com/51.html?&tx_ttnews[pS]=1233037160&tx_ttnews[tt_news]=126&tx_ttnews[backPid]=41&cHash=b25abfae43</ref> IndiaOne was India’s first private national as well as the international long-distance service provider<ref>http://askmeany.com/2009/09/23/sunil-mittal-2/</ref>, and, thus, became a major factor in Bharti's success by providing services cheaply.<ref>http://www.topnews.in/bharti-airtel-launches-indiaone-offer-call-us-1-centmin-2150295</ref>


In May 2008, it emerged that Bharti Airtel was exploring the possibility of buying the [[MTN Group]], a [[South Africa]]-based telecommunications company with coverage in 21 countries in [[Africa]] and the [[Middle East]]. ''[[The Financial Times]]'' reported that Bharti was considering offering US$45 billion for a 100% stake in MTN, which would be the largest overseas acquisition ever by an Indian firm. However, both sides emphasize the tentative nature of the talks, while ''[[The Economist]]'' magazine noted, "If anything, Bharti would be [[Hypergyny|marrying up]]," as MTN has more subscribers, higher revenues and broader geographic coverage.<ref>[http://www.economist.com/daily/news/displaystory.cfm?story_id=11323216&top_story=1 "Emerging-market telecoms: Eyes on Africa"], ''[[The Economist]]'', 6 May 2008</ref>
In May 2008, it emerged that [[Sunil Bharti Mittal]] was exploring the possibility of buying the [[MTN Group]], a [[South Africa]]-based telecommunications company with coverage in 21 countries in [[Africa]] and the [[Middle East]]. ''[[The Financial Times]]'' reported that Bharti was considering offering US$45 billion for a 100% stake in MTN, which would be the largest overseas acquisition ever by an Indian firm. However, both sides emphasize the tentative nature of the talks, while ''[[The Economist]]'' magazine noted, "If anything, Bharti would be [[Hypergyny|marrying up]]," as MTN has more subscribers, higher revenues and broader geographic coverage.<ref>[http://www.economist.com/daily/news/displaystory.cfm?story_id=11323216&top_story=1 "Emerging-market telecoms: Eyes on Africa"], ''[[The Economist]]'', 6 May 2008</ref>
However, the talks fell apart as MTN group tried to reverse the negotiations by making Bharti almost a subsidiary of the new company.<ref>[http://www.nytimes.com/2008/05/25/technology/25bharti.html "$50 Billion Telecom Deal Falls Apart"], ''[[The New York Times]]'', 25 May 2008</ref>
However, the talks fell apart as MTN group tried to reverse the negotiations by making Bharti almost a subsidiary of the new company.<ref>[http://www.nytimes.com/2008/05/25/technology/25bharti.html "$50 Billion Telecom Deal Falls Apart"], ''[[The New York Times]]'', 25 May 2008</ref>


Revision as of 11:43, 16 February 2010

For other uses, see Mittal.
Sunil Bharti Mittal
Born (1957-10-23) October 23, 1957 (age 66)
Ludhiana, Punjab, India
Alma materPunjab University[1]
Occupation(s)Chairman & CEO of
Bharti Airtel
SpouseNyna [1]
ChildrenEiesha
Kavin
Shravin [1][2]
Websitewww.airtel.in

Sunil Bharti Mittal, born October 23, 1957 is an Indian telecom mogul. He is the chairman and managing director of the Bharti group. The US$12 billion turnover company runs India's largest GSM-based mobile phone service. He is the son of the late Sat Paul (former MP) and Lalita.[3]

Early life

He graduated in 1979 from Punjab University with a Bachelor of Arts and Science.[4] His father died of cardiac arrest in 1992. [5]

Bharti Group

The son of a politician Bharti Mittal, Sunil Mittal is from the town of Ludhiana in Punjab. He has built the Bharti group, along with two siblings and became India's largest mobile phone operator in just ten years. The UK based telecommunication giant, Vodafone and Singapore's SingTel both own stakes in the recently renamed flagship company Bharti Airtel. The group also has partnerships with Axa for insurance and with the Rothschild family.

Sunil Bharti Mittal (left) with James J. Schiro and Angela Merkel

Airtel now serves over 110 Million Indian customers -- becoming the largest telecom operator in India.

Entrepreneurial Ventures

Residing in Delhi, he is married and has three children. A first generation entrepreneur, he started his first business in April 1976 [3] at the age of 18, with a capital investment of Rs 20,000 (U$500) borrowed from his father. His first business was to make crankshafts for local bicycle manufacturers. [6]

In 1980 he sold his bicycle parts and yarn factories and moved to Mumbai. [7]

In 1981, he purchased importing licences from exporting companies in Punjab.[8] He then imported thousands of Suzuki Motors's portable electric-power generators from Japan. The importing of generators was suddenly banned by the then Indian Government and just 2 licences to manufacture generators in India were issued to 2 companies.

1984, he started assembling push-button phones in India [9] replacing the old fashioned, bulky rotary phones that were in use in the country then. Bharti Telecom Limited (BTL) was incorporated and entered into a technical tie up with Siemens AG of Germany for manufacture of electronic push button phones. By the early 1990s, Mittal was making fax machines, cordless phones and other telecom gear.[10] Mittal says, "In 1983, the government imposed a ban on the import of gensets. I was out of business overnight. Everything I was doing came to a screeching halt. I was in trouble. The question then was: what should I do next? Then, opportunity came calling. While in Taiwan, I noticed the popularity of the push-button phone -- something which India hadn't seen then. We were still using those rotary dials with no speed dials or redials. I sensed my chance and embraced the telecom business. I started marketing telephones, answering/fax machines under the brand name Beetel and the company picked up really fast."[11]

In 1992, he successfully bid for 1 of the 4 mobile phone network licences auctioned in India.[12] One of the conditions for the Delhi cellular license was that the bidder have some experience as a telecom operator. So, Mittal clinched a deal with the French telecom group Vivendi.[13]

He was one of the first Indian entrepreneurs to identify the mobile telecom business as a major growth area. His plans were finally approved by the Government in 1994 [14] and launched services in Delhi in 1995, when Bharti Cellular Limited (BCL) was formed to offer cellular services under the brand name AirTel. Within a few years Bharti became the first telecom company to cross the 2-million mobile subscriber mark.[15] Bharti also brought down the STD/ISD cellular rates in India under brand name 'Indiaone'.[4] IndiaOne was India’s first private national as well as the international long-distance service provider[5], and, thus, became a major factor in Bharti's success by providing services cheaply.[6]

In May 2008, it emerged that Sunil Bharti Mittal was exploring the possibility of buying the MTN Group, a South Africa-based telecommunications company with coverage in 21 countries in Africa and the Middle East. The Financial Times reported that Bharti was considering offering US$45 billion for a 100% stake in MTN, which would be the largest overseas acquisition ever by an Indian firm. However, both sides emphasize the tentative nature of the talks, while The Economist magazine noted, "If anything, Bharti would be marrying up," as MTN has more subscribers, higher revenues and broader geographic coverage.[7] However, the talks fell apart as MTN group tried to reverse the negotiations by making Bharti almost a subsidiary of the new company.[8]

In May 2009, Bharti Airtel again confirmed that it is in Talks with MTN and companies have now agreed discuss the potential transaction exclusively by July 31, 2009.[9] Bharti Airtel said in a statement “Bharti Airtel Ltd is pleased to announce that it has renewed its effort for a significant partnership with MTN Group".[10]

Talks eventually ended without agreement, some sources stating that due to the South African government opposition.[11]

Personal life

He is superstitious about the number 23, as he was born on the 23rd and also got married on the 23rd.[12] He also becomes vegetarian before any big venture.[16]

Philanthropy

He is opening a Football academy in Haryana or Goa to help India send a team to the 2018 FIFA World Cup.[17]

Mittal has also been working towards educating India through the Bharti Foundation

Tie-Up with Wal-Mart

In November 2006, he struck a joint venture deal with Wal-Mart, the US retail giant, to start a number of retail stores across India.

In July 2006, he attracted many key executives from Reliance ADAG, NIS Sparta and created Bharti Comtel

Wikimedia Commons has media related to Sunil Mittal.

References

  1. ^ a b c d [1], Times of India. Retrieved August 31, 2009. Cite error: The named reference "pressinfo" was defined multiple times with different content (see the help page).
  2. ^ India Today 2009 Power List
  3. ^ YouTube.com - Sunil Mittal TimesNow interview
  4. ^ http://www.bharti.com/51.html?&tx_ttnews[pS]=1233037160&tx_ttnews[tt_news]=126&tx_ttnews[backPid]=41&cHash=b25abfae43
  5. ^ http://askmeany.com/2009/09/23/sunil-mittal-2/
  6. ^ http://www.topnews.in/bharti-airtel-launches-indiaone-offer-call-us-1-centmin-2150295
  7. ^ "Emerging-market telecoms: Eyes on Africa", The Economist, 6 May 2008
  8. ^ "$50 Billion Telecom Deal Falls Apart", The New York Times, 25 May 2008
  9. ^ topUpGuru.com(May)Bharti Renews MTN Talks]]
  10. ^ [2]
  11. ^ Bharti, MTN call off merger talks
  12. ^ India Today 2005 Power List
Retrieved from "https://en.wikipedia.org/w/index.php?title=Sunil_Mittal&oldid=344389755"