Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
16 December, 2018 06:53 IST
Bharti Airtel acquires India leg of GBI's submarine cable system
Source: IRIS | 07 Mar, 2018, 11.01AM
Comments  |  Post Comment

Bharti Airtel, India's largest telecommunications services provider, and Gulf Bridge International (GBI), a global cloud provider for the Middle-East and Europe, announced a strategic agreement to unlock the capacity on GBI's India-Middle East-Europe submarine cable system.

Under the agreement, Airtel through its subsidiary has acquired the rights to use significant capacity on Middle East-Europe leg of GBI's cable system.

With this new investment Airtel has further consolidated its leading position as a global capacity provider. It now has large capacities-owned and leased - on multiple international submarine cable systems. GBI's cable asset will complement Bharti Group's existing global network viz. IMEWE, EIG, SMW4 and MENA and add significant long term bandwidth capacity, enabling it to serve the booming data demand across emerging markets like India and Africa.

GBI is a multilayer terrestrial and subsea cable meshed network bridges the East to the West through the Middle East, and helps contribute to the region's transformation towards knowledge-based economies.

Ajay Chitkara, Director and CEO for Global Voice and Data Business, Bharti Airtel said, "We are delighted to announce this agreement with GBI. With this, we are adding a large capacity to meet the growing data, content demand in markets like India as well as serve the connectivity needs of global carriers and enterprise customers. The agreement offers great synergies to Airtel and GB1 as both partners will able to build on each other's strengths in their respective markets. This will also complement Airtel's existing global network spanning 250,000 Mans with presence in 50 countries and contribute to our vision of serving customers with a future ready network that is built on cutting-edge technology."

Shares of the company declined Rs 2.15, or 0.52%, to trade at  Rs 411.70.  The total volume of shares traded  was  83,915 at the BSE (10.50 a.m., Wednesday).



Bharti Airtel Limited   (Q,N,C,F)*

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Company Update
Suzlon secures 50.4 MW order from Atria Power - 13-Dec-2018 13:11
Vikas Wsp wins orders worth Rs 2.06 bn - 13-Dec-2018 12:18
Strides Pharma receives USFDA approval for Lidocaine ointment - 13-Dec-2018 10:00
Tata Power eevamps customer portal - 13-Dec-2018 09:31
NBCC wins order worth Rs 1.72 bn from Govt of India - 13-Dec-2018 09:26
Ashok Leyland signs defence agreement with ELBIT Systems - 12-Dec-2018 09:41
Wipro launches automotive innovation center in Michigan - 12-Dec-2018 09:37
Liva Pharma gets USFDA approval for Ranitidine injection - 12-Dec-2018 09:35
Dr Reddy's Labs launches Omeprazole tablets in US market - 12-Dec-2018 09:31
Strides Vivimed JV receives consent for Albendazole tablets - 12-Dec-2018 09:27
Unichem Lab gets tentative nod for Tadalafil tablets - 12-Dec-2018 09:25
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer