Bharti plans to enter 3G mkt in Madagascar

NEW DELHI, INDIA: Bharti Airtel, India's top mobile phone carrier, which reported a bigger-than-expected 31.5 per cent fall in quarterly profit on Thursday, said it had started discussions to acquire third-generation mobile license in Madagascar.

After announcing the result, Akhil Gupta, deputy group CEO at Bharti Airtel's parent Bharti Enterprises, said it is on the threshold of spinning off the tower business of its Africa operations.

Performance affected by costs of the acquisition, 3G investment

The mobile phone carrier's performance was affected by the costs of the acquisition as well as the investment in 3G services in India. Ever since it acquired Kuwait's Zain, Bharti Airtel has been investing heavily in the loss-making firm.

Bharti said the board has recommended a dividend of Re 1 per equity share of Rs 5 each for the financial year 2010-11.

For this financial year, Bharti has earmarked as much as $3.1 billion in capital expenditure for its various operations in this fiscal year.