BHARTIARTL

The author is a Reuters Breakingviews columnist. The opinions expressed are her own. Updates to add graphic.

By Shritama Bose

MUMBAI, March 18 (Reuters Breakingviews) - Elon Musk's businesses are breaking into India's orbit at interstellar speed. Weeks after the U.S. presidential advisor's electric-vehicle maker Tesla TSLA.O signed a lease for a store in Mumbai, firms backed by South Asian tycoons Mukesh Ambani and Sunil Bharti Mittal announced a deal to market Musk's Starlink internet services. The latest alliances may look like a win-win for all sides but they will complicate the SpaceX boss' ambition to conquer the world's second-largest telecoms market.

Bharti Airtel BRTI.NS and Reliance Industries' RELI.NS digital services unit Jio Platforms last week said they would sell Starlink devices in their retail stores and offer its broadband service to businesses. Strong domestic partners might help Musk get the official clearances Starlink is waiting for faster. Its presence would add satellite communications to the Indian operators' suite of offerings and make it easier to bring the country's geographically remote regions onto the grid.

For now, it poses no serious challenge to the incumbent duo which boasts a combined $305 billion market capitalisation and 766 million data customers. Unless the government subsidises satellite-based providers, Starlink’s pricing could be up to 14 times that of India’s major broadband networks, analysts at Bernstein reckon.

In the medium-term, though, Airtel and Jio have little incentive to push Starlink's services to their own customers, given the newcomer's potential to eventually disrupt parts of their core business: most Indians depend on mobile data for internet, meaning there’s a gap in the market for home broadband providers like Starlink. Indeed, Jio earlier disagreed with Musk on the manner in which New Delhi should distribute spectrum for satellite broadband. Both incumbents want airwaves to be allotted for just a fraction of the 20-year period that Musk prefers. Meanwhile, Airtel's parent, Bharti Enterprises, is a big investor in Starlink's Anglo-French rival Eutelsat ETL.PA.

Ultimately, U.S. President Donald Trump's tariff threats give the Indian government and its leading industrialists a strong incentive to make accommodating gestures in Washington's direction. India has seen its fair share of joint ventures with foreign companies rupture, New Delhi retains protectionist instincts, and tycoons are not easy partners. In the fast-evolving communications sector, it is easy to see how the goals of Musk and his new partners may quickly diverge.

Follow @ShritamaBose on X

CONTEXT NEWS

India's telecom regulator plans to recommend that satellite broadband spectrum be allotted for around five years to assess initial market adoption, defying Elon Musk's Starlink, which is seeking a 20-year permit, Reuters reported on March 13, citing an unnamed senior government source.

Reliance Industries' telecom unit signed a deal with Elon Musk's SpaceX to bring Starlink satellite internet services to India, the company said on March 12, a day after Bharti Airtel announced a similar arrangement with the U.S. company.

(Editing by Una Galani and Ujjaini Dutta)

((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))

Corrects headline and paragraph one to clarify that Reliance Jio is offering free cricket streaming on certain plans

March 17 (Reuters) - Reliance Jio, India's largest telecom firm by users, said on Monday certain tariff plans will continue to give subscribers free streaming access to Indian Premier League (IPL) cricket matches, among the country's most-watched sporting events.

The plan is applicable to users recharging their accounts with 299 rupees ($3.44) or more and will enable them to watch matches on Reliance-Disney's newly merged JioHotstar streaming platform, the Reliance Group-owned firm said.

IPL, a money spinner and among the country's most-streamed content, is scheduled to be held between March 22 and May 25.

The move comes a month after Reuters reported that the Reliance-Disney JV will no longer offer completely free streaming for IPL cricket matches, as was the case in 2023 and 2024 in the old JioCinema platform, and will adopt a hybrid model where subscription kicks in after content consumption reaches a threshold.

The new plan also includes a 50-day trial of Reliance Jio's RELJ.NS, broadband internet services, to help boost home internet dominance with high-speed sports streaming.

Billionaire Mukesh Ambani's pricing strategy for the IPL and other cricketing events are closely watched - media rights for those have cost the merged group, India's biggest entertainment giant, nearly $10 billion in recent years.

The JV runs more than 100 TV channels and streaming apps in India's $28-billion media and entertainment market.

($1 = 86.8440 Indian rupees)

(Reporting by Indranil Sarkar and Aleef Jahan in Bengaluru; Editing by Sonia Cheema)

(([email protected]))

By Aditya Kalra and Munsif Vengattil

NEW DELHI, March 13 (Reuters) - India's telecom regulator plans to recommend that satellite broadband spectrum be allotted for around five years to assess initial market adoption, defying Elon Musk's Starlink, which is seeking a 20-year permit, said a senior government source.

The Telecom Regulatory Authority of India (TRAI) is currently working on key recommendations to the federal government, including a time frame and pricing of satellite spectrum, which will be administratively allotted.

Musk and Indian billionaire Mukesh Ambani forged a partnership this week that will allow Starlink devices to be sold in Ambani's Reliance RELI.NS stores, giving it large distribution access. They were rivals earlier - Ambani's telco subsidiary had unsuccessfully lobbied New Delhi for months to auction spectrum, and not allot it administratively as Musk wanted.

Starlink has pushed New Delhi to allot spectrum for 20 years to focus on "affordable pricing and longer-term business plans", while Reliance sought it for three years, after which it wants India to reassess the market, according to their public submissions.

Another Indian telco, Bharti Airtel, has also pushed for a 3-5 year period for the licence. Airtel and Musk have also signed a distribution deal for Starlink, like Ambani's Reliance.

TRAI plans to agree to demands for a lower licence time-frame "of around 5 years and then see how the sector grows," said the senior government source, who declined to be named as the decision-making process is confidential.

"This will help understand how the market stabilises, so there's no point going beyond five years," said the official.

An industry source familiar with licensing processes said the shorter time-frame will allow New Delhi to revise spectrum prices after five years as the market develops.

TRAI did not respond to Reuters queries. Airtel, Reliance and Starlink also did not immediately respond.

The government source added it will take about a month for the TRAI to finalise its recommendations on the licence time- frame and a per megahertz spectrum pricing, which will then be submitted to India's telecoms ministry for further action.

Musk's deals with Reliance and Airtel are subject to Starlink winning pending regulatory clearances in India, but came weeks after Indian Prime Minister Narendra Modi met Musk in Washington, where they discussed issues including space, mobility, technology and innovation.

Ambani has been worried that his telecom company, which spent $19 billion in airwave auctions, risks losing broadband customers to Starlink and potentially even data and voice clients later.

The satellite spectrum pricing "will be substantially lower" than traditional telecom licences, which are granted via auction for 20 years, the government official added.

KPMG estimates India’s satellite communication sector will grow more than 10 times in size to touch $25 billion by 2028.

(Reporting by Aditya Kalra; Editing by Raju Gopalakrishnan)

((Email: [email protected]; X: @adityakalra;))

March 12 (Reuters) - India's Reliance Jio said on Wednesday it signed a deal with SpaceX to bring Starlink's internet services to India, a day after rival Bharti Airtel BRTI.NS inked a similar pact.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Janane Venkatraman)

(([email protected]; Mobile: +91 9591011727;))

March 11 (Reuters) - Bharti Airtel Ltd BRTI.NS:

• BHARTI AIRTEL LTD - ANNOUNCES AGREEMENT WITH SPACEX TO BRING STARLINK INTERNET TO INDIA

• BHARTI AIRTEL LTD - CO, SPACEX TO EXPLORE STARLINK EXPANDING AIRTEL NETWORK

Source text: ID:nBSE5dm2HN

Further company coverage: BRTI.NS

(([email protected];;))

Feb 26 (Reuters) - Bharti Airtel Ltd BRTI.NS:

• BHARTI AIRTEL- VERIFICATION RESPECT TO NEWS TATA, BHARTI GROUPS NEAR MEGA DTH MERGER

• BHARTI AIRTEL- CO AND TATA GROUP ARE IN BILATERAL DISCUSSIONS

Source text: ID:nBSE6dZTzj

Further company coverage: BRTI.NS

(([email protected];))

Adds more merger information, context, share price movement

Feb 25 (Reuters) - India's Tata Group and Bharti Group are close to merging their satellite TV businesses, creating a nearly $1.6 billion entity with the aim of tiding over the sustained migration of subscribers to digital streaming, Economic Times reported on Tuesday.

The merged entity is expected to be run by Bharti Airtel BRTI.NS, which will likely hold between 52%-55% with the remaining held by Tata Play TATK.BO shareholders, including Walt Disney DIS.N, the report said, citing sources.

Bharti Airtel, Tata Play and Disney did not immediately respond to Reuters requests for comments.

Tata Play, a 70:30 venture between Tata Sons and Disney, and Airtel had a combined 35 million paid subscribers as of last September, more than half the 60 million subscribers industry-wide at the time, according to a government report.

The two businesses are being approximately valued between 60 billion ($690.76 million)-70 billion rupees ($805.89 million) each, with their revenue exceeding 70 billion rupees in fiscal 2024, ET reported.

The deal is the second major one in the sector since Dish TV DSTV.NS merged with Videocon d2h in 2016 and follows the $8.5 billion-merger of Reliance Industries RELI.NS streaming media assets with Disney's Indian media assets last year.

Bharti Airtel shares were last up 1.7% on the day.

($1 = 86.8610 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru; Editing by Sumana Nandy)

(([email protected]))

Feb 24 (Reuters) - Bharti Airtel Ltd BRTI.NS:

• AIRTEL AND APPLE ENTER INTO A STRATEGIC PARTNERSHIP

• DEAL TO EXCLUSIVELY OFFER APPLE TV+ AND APPLE MUSIC TO ITS WI-FI AND POSTPAID CUSTOMERS

• APPLE TV+ AVAILABLE TO HOME WI-FI CUSTOMERS AT 999 RUPEES

Source text: ID:nnAPN2NSPL5

Further company coverage: BRTI.NS

(([email protected];;))

Updates share prices in paragraph 2, adds graphics and analyst comment in paragraphs 10 and 11

By Roshan Thomas and Rishav Chatterjee

Feb 19 (Reuters) - Singapore Telecommunications (Singtel) STEL.SI issued a positive annual earnings outlook and posted a nearly threefold increase in third-quarter earnings on Wednesday, driven by an exceptional gain, propelling its shares to near six-year highs.

Shares in Singtel climbed 1.2% to S$3.4 and were on track for their strongest trading session since January 31, provided the gains hold. The stock was nearing its S$3.475 high from July 2019.

The firm's net profit rose 183.4% to S$1.3 billion ($968.85 million) for the three-month period ended December 31, from S$465 million last year.

Singtel recorded a net exceptional gain of S$639 million from disposal of partial stakes in Thailand associate Intouch INTUCH.BK and Indara, formerly known as Australia Tower Network, coupled with its share of an exceptional gain from its stake in India's Bharti Airtel BRTI.NS.

Singtel had reported a net exceptional loss of S$94 million a year earlier.

Airtel's gain primarily consisted of a fair value gain from the consolidation of Indus Towers, a reversal of a doubtful debt provision by Indus Towers, and foreign exchange gains from the appreciation of the Nigerian naira and Tanzanian shilling.

Singtel now anticipates its earnings before interest and taxes — excluding contributions from its associates — to rise at a robust pace, with a projected increase in the high teens to low twenties percentage range for the 2025 financial year.

This marks an optimistic shift from the earlier projection of growth in a more modest low-double digits.

The telecommunications giant said it expects to pay a total ordinary dividend of around 16.5 Singapore cents apiece for the financial year, higher than the 15 Singapore cents paid a year ago.

Citi analysts expect markets to react positively to the company's profit performance and have raised their price target on the stock.

"We keep Singtel at 'buy' with 5% FY25 yield poised for further expansion and with potential for additional capital management exercises in place. This is further complemented by sustained double digit net profit after tax growth outlook," Citi said.

($1 = 1.3418 Singapore dollars)

(Reporting by Roshan Thomas and Rishav Chatterjee in Bengaluru; Additional reporting by Ankur Banerjee in Singapore; Editing by Alan Barona and Sherry Jacob-Phillips)

(([email protected]))

Feb 18 (Reuters) - Bharti Airtel Ltd BRTI.NS:

• BHARTI AIRTEL - INDIAN CONTINENT INVESTMENT SOLD 0.84% STAKE IN CO FOR 84.85 BILLION RUPEES

Source text: ID:nnAPN2NM1I3

Further company coverage: BRTI.NS

(([email protected];))

Feb 17 (Reuters) - Bharti Airtel Ltd BRTI.NS:

• AIRTEL LANDS SEA-ME-WE-6 CABLE IN CHENNAI

Source text: ID:nBSE4jvw1b

Further company coverage: BRTI.NS

(([email protected];;))

Feb 14 (Reuters) - India's top court has rejected a request by telecom companies to recalculate the dues they owe the government, the Mint business daily reported on Friday.

The news sent shares of debt-saddled Vodafone Idea VODA.NS down 4.6%, while those of larger peer Bharti Airtel BRTI.NS declined 0.2%.

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

Corrects typo in headline

** Shares of Bharti Airtel BRTI.NS up 3.6% at 1,677.50 rupees

** BRTI top gainer in benchmark Nifty 50 index .NSEI, which is down 0.1%

** Telecom operator posts higher Q3 profit, helped by a one-time gain, subscriber additions and tariff hikes

** Subscriber additions were ahead of CLSA's estimates and "led the positive surprise," brokerage said

** BRTI shares up 5.7% so far this year vs a 0.3% drop in the Nifty 50

** BRTI shares jumped 54% last year

** Analysts average rating on BRTI is "buy", with median PT at 1,850 rupees, as per LSEG data

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

Feb 6 (Reuters) - Bharti Airtel Ltd BRTI.NS:

• BHARTI AIRTEL Q3 CONSOL NET PROFIT 147.81 BILLION RUPEES; IBES EST. 51.87 BILLION RUPEES

• BHARTI AIRTEL Q3 CONSOL REVENUE FROM OPERATIONS 451.29 BILLION RUPEES; IBES EST. 441.10 BILLION RUPEES

• BHARTI AIRTEL CONSOL NET DEBT EXCLUDING LEASE OBLIGATIONS AT 1.34 TRLN RUPEES AT DEC-END

• BHARTI AIRTEL Q3 MOBILE ARPU 245 RUPEES

Source text: [ID:]

Further company coverage: BRTI.NS

(([email protected];;))

Feb 3 (Reuters) -

• MITTAL TO MEET BT MANAGEMENT OVER STRATEGY - FT

Source text: https://tinyurl.com/255vmhqz

(([email protected];))

By Divya Chowdhury

DAVOS, Switzerland, Jan 23 (Reuters) - Swedish telecom gear maker Ericsson expects the United States to continue to be at the forefront of technology development under President Donald Trump, which the company is ready to take advantage of, its chief technology officer said.

The industry is now in full-execution phase of OpenRAN, CTO Erik Ekudden told the Reuters Global Markets Forum, adding: "Of course we intend to continue to lead and drive that industry development."

OpenRAN allows operators to mix and match suppliers in their radio networks. Ericsson ERICb.ST, Huawei and Nokia NOKIA.HE, dominate the global telecoms equipment market with their proprietary technologies.

The focus is now on building artificial intelligence (AI)data centers and also leveraging that AI to optimize the performance of 5G networks, Ekudden said.

That is why every country needs to have innovation strategy to build on 5G and AI, he added.

"I expect U.S. to continue to push ahead in that, and if anything, the opportunities just seem fantastic right now to put in an extra gear and then make sure that we are part of that," Ekudden said.

He also said Ericsson's local-for-local manufacturing model gives it an advantage, helping it rely less on global trade and supply chains, as threats of a trade war loom under the new U.S. administration.

However, Ekudden said it was still early days to speculate on tariffs.

(Join GMF, a chat room hosted on LSEG Messenger, for live interviews: https://lseg.group/4ajdDTy)

(Reporting by Divya Chowdhury in Davos and Ankika Biswas in Bengaluru; Editing by Nick Zieminski)

(([email protected]; https://x.com/divyachowdhury; LSEG Messenger: [email protected]))

Jan 22 (Reuters) - Bharti Airtel Ltd BRTI.NS:

• APPROVED ALLOTMENT OF 2.9 MILLION SHARES UPON CONVERSION OF FCCBS

Source text: ID:nBSE4LRRCP

Further company coverage: BRTI.NS

(([email protected];;))

Repeats Jan 20 story with no changes to text

By Aditya Kalra and Aditi Shah

NEW DELHI, Jan 20 (Reuters) - India's decision to allocate satellite spectrum, rather than auction it, will give consumers more choice, the telecoms minister said on Monday, playing down concern by Mukesh Ambani's Reliance Jio that it could lose out to Elon Musk's Starlink.

Starlink has long wanted to launch in India and has in recent months clashed with billionaire Ambani's company over how the country should grant spectrum for satellite services.

Reliance had urged an auction but the Indian government sided with Musk who wanted it to be allocated administratively, in line with global trends. Analysts say an auction, requiring much more investment, would likely deter foreign rivals.

Ambani said he wanted a level playing field and has been worried that his telecom company, which spent $19 billion in airwave auctions, now risks losing broadband customers to Starlink and potentially even data and voice clients later as technology advances.

"My job as telecoms minister is to make sure that you have as many choices as possible," Jyotiraditya Scindia told Reuters during an interview at his ministry's office in New Delhi.

Asked if there was merit in Reliance's concerns, he said, without naming any company: "Technology is never constant", adding that companies need to keep evolving.

Scindia noted that current satellite technology for communications requires devices to have the sky in their sight, and smartphones cannot use that technology for indoor services that are provided by terrestrial networks.

"The minute you come into this building, you're done," he said.

India is one of the world's biggest telecom markets with 942 million users and stiff competition among Reliance and rivals Bharti Airtel BRTI.NS and Vodafone Idea VODA.NS. Data prices are among the cheapest in the world and internet connectivity has risen rapidly.

Deloitte predicts India’s satellite broadband service market will be worth $1.9 billion by 2030, making it lucrative for players like Starlink, Amazon and Ambani.

Scindia said Starlink and Amazon Kuiper's applications for a licence to launch satellite broadband services in the country were still under review.

VODAFONE IDEA

Musk has a reputation for disrupting markets. In Kenya, he priced Starlink at $10 per month, versus $120 in the United States, prompting a complaint by Kenya's Safaricom SCOM.NR last year.

A former aviation minister, Scindia is also overseeing many more telecom initiatives for Prime Minister Narendra Modi.

India's government owns a stake in Vodafone Idea, and the company in November disclosed it still had around $24 billion in dues owed to the government.

Scindia repeatedly declined to answer in the interview if there were any plans for relief on the outstanding dues.

The Indian government is, however, working towards reviving state-run telecom player, Bharat Sanchar Nigam Limited (BSNL), which lost market share amid fierce competition over the years, he said.

BSNL has 99 million users but is being supported with expanded offerings of 4G services.

(Reporting by Aditya Kalra and Aditi Shah; Additional reporting by Munsif Vengattil; Editing by Emelia Sithole-Matarise)

((Email: [email protected]; X: @adityakalra;))

Corrects Airtel's customer numbers to 375 million from 370 million in paragraph 3 after official clarification from the company

BENGALURU, Jan 20 (Reuters) - Indian telecom major Bharti Airtel BRTI.NS will be offering non-banking lender Bajaj Finance's BJFN.NS financial products in the country, the companies said on Monday.

Airtel will initially offer Bajaj Finance's products through its application, and later via its physical stores, they said in a joint statement.

The partnership will enable Bajaj Finance, the country's largest private-sector non-banking financial company, to tap Airtel's 375 million customers. The non-bank lender's customer base stood at 97.12 million as of December-end, up from 80.31 million a year earlier.

Currently, two products of Bajaj Finance have been piloted on Airtel's app and by March, it would go up to four products — gold loan, business loan, co-branded EMI card, and personal loan.

Airtel plans to offer nearly 10 products of the non-banking financial company to its customers within this calendar year.

(Reporting by Nishit Navin in Bengaluru; Editing by Rashmi Aich)

(([email protected];))

** Shares of Indus Tower INUS.NS ends 3.4% higher, its third straight session of gains

** Bharti Airtel BRTI.NS closes 0.5% higher on the day

** Delhi High Court says the two companies are eligible for input tax credit, CNBC TV18 reports

** The firms did not immediately respond to requests for comment

** So far in 2025, INUS up ~3%, BRTI gained 1.2%

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

Jan 8 (Reuters) - Ericsson ERICb.ST:

• ERICSSON: NEW API VENTURE ANNOUNCES ANTHONY BARTOLO AS CEO & UNVEILED COMPANY NAME - ADUNA

Source text: nPnc2q9RGa

Further company coverage: [ERICb.ST]

(([email protected];))

** Shares of telecom operator Bharti Airtel BRTI.NS jumps 53.6% in 2024, set for best year since 2019

** Peer Vodafone Idea VODA.NS sheds ~51% in 2024

** BRTI also on track to sixth straight year of gains

** Analysts avg rating on BRTI is "buy" vs "hold" for Vodafone Idea -LSEG data

** Their median PT on BRTI is 1850 rupees -LSEG data

** BRTI shares flat at 1585 rupees on the day, while VODA is up 1%

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

Dec 19 (Reuters) - Bharti Airtel Ltd BRTI.NS:

• BHARTI AIRTEL LTD - PREPAYS 36.26 BILLION RUPEES FOR 2016 SPECTRUM LIABILITIES

• BHARTI AIRTEL LTD - PREPAYS ALL SPECTRUM DUES WITH INTEREST COSTS ABOVE 8.65%

• BHARTI AIRTEL LTD - PREPAYS TOTAL OF 283.20 BILLION RUPEES IN SPECTRUM LIABILITIES IN 2024

Source text: ID:nBSE1jBh6q

Further company coverage: BRTI.NS

(([email protected];))

** Shares of Bharti Airtel BRTI.NS rise 4.1% to 1,675.8 rupees apiece

** BRTI is the top gainer on Nifty 50 .NSEI, which is up 0.8%

** Telecom services provider's shares up 5.5% in two sessions after Jefferies identifies it among its preferred picks in Asian stocks for 2025

** BRTI's tariff and average revenue per user (ARPU) outlook for 2025 looks healthy, says Jefferies

** Adds network costs for BRTI should moderate in 2025 as the bulk of 5G network rollouts are done

** Expects BRTI to clock 17% revenue CAGR and 19% core profit CAGR over fiscal years 2024-2027

** BRTI up 62.3% in 2024 so far, outperforming the 14% rise in Nifty 50 index .NSEI

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Dec 11 (Reuters) - Bharti Airtel Ltd BRTI.NS:

• GLANCE AND AIRTEL DIGITAL TV LAUNCH GLANCE TV

Source text: ID:nNSE80BGjj

Further company coverage: BRTI.NS

(([email protected];;))

Dec 4 (Reuters) - India's Bharti Airtel BRTI.NS on Wednesday signed a "multi-billion" dollar deal with Swedish telecom equipment maker Ericsson ERICb.ST to boost its 4G and 5G coverage in the world's second-largest smartphone market.

Under the deal, which Reuters reported in October, Bharti Airtel will buy and deploy equipment from Ericsson likely in 2025. The companies did not disclose exact financial terms of the deal.

Demand from India's 5G market started to skyrocket in 2023, as Bharti Airtel and Jio, the telecom unit of Reliance Industries RELI.NS, started to scale up 5G services.

Ericsson, Bharti Airtel's partner of more than two decades, will deploy centralized radio access network (RAN) and Open RAN-ready solutions, Bharti Airtel said in a press release.

Open RAN allows mobile operators to mix and match equipment from various suppliers, potentially increasing flexibility.

Ericsson will also upgrade the software of its deployed 4G radios, it said.

"This deployment will enable us to further improve the speed, reliability, and coverage of our network," Bharti Airtel's Chief Technology Officer Randeep Sekhon said in the release.

The company did not immediately respond to Reuters' request for comment.

The deal comes after Ericsson won part of a $3.6 billion contract to sell 5G equipment to Vodafone Idea VODA.NS earlier this year. It shared the contract with Nokia NOKIA.HE and Samsung 005930.KS.

The new deals are expected to boost Ericsson's revenue next year, after a big fall in contracts from India in the first half of the year.

Nokia also signed a "multi-billion" dollar deal with Bharti Airtel last month.

(Reporting by Nandan Mandayam and Indranil Sarkar in Bengaluru; Editing by Varun H K)

(([email protected]; Mobile: +91 9591011727;))

** Shares of telecom operator Bharti Airtel BRTI.NS climb 4.8% to 1,635.70 rupees, set for best day since August 2021

** Stock top pct gainer on the Nifty 50 .NSEI which is up about 0.8%

** ICICI Securities upgrades BRTI to "buy" from "add" citing "solid fundamentals;" maintains PT of 1,875 rupees

** Says BRTI's premium valuation is backed by higher earnings and free cash flow growth prospects vs APAC-ex China peers

** BRTI is generating strong FCF which should help accelerate deleveraging, and return ratios may improve further - ICICI Securities

** Since hitting record high in end-Sept, stock has slipped about 12% as of last close

** Analysts tracking BRTI rate it "buy" on avg, vs "hold" for Vodafone Idea VODA.NS - LSEG data

** BRTI is up 58% YTD, among top 5 Nifty 50 gainers

(Reporting by Nandan Mandayam in Bengaluru)

(([email protected]; Mobile: +91 9591011727;))

Nov 22 (Reuters) - Bharti Airtel Ltd BRTI.NS:

• BHARTI AIRTEL OUTLOOK REVISED TO POSITIVE ON EARNINGS STRENGTH; 'BBB-' RATING AFFIRMED - S&P GLOBAL RATINGS

Source text: [ID:]

Further company coverage: BRTI.NS

(([email protected];))

HELSINKI, Nov 20 (Reuters) - Finnish telecom equipment supplier Nokia NOKIA.HE on Wednesday said it had won a "multi-billion" dollar deal with India's Bharti Airtel for delivery of 4G and 5G equipment.

Sources familiar with the talks told Reuters last month Nokia and Bharti were nearing a deal worth several billion dollars to expand Bharti's network in India.

Nokia's Swedish rival Ericsson had already won a deal of similar size with Bharti earlier in October.

India last year helped Nokia and Ericsson offset weakness in demand from U.S. customers. However, the volume of orders from India slowed down significantly after a growth spurt last year.

Nokia's share price rose 3.1% by 0829 GMT.

(Reporting by Essi Lehto, editing by Terje Solsvik)

(([email protected]; +358505412375;))

Nov 13 (Reuters) - India's Vodafone Idea VODA.NS reported a bigger-than-expected second-quarter loss on Wednesday, weighed down by a shrinking user base.

The telecom operator narrowed its consolidated loss after tax to 71.76 billion rupees ($850.7 million) for the quarter ended Sept. 30, compared to a loss of 87.38 billion rupees a year ago, helped by an increase in tariffs.

However, analysts' on average estimated a loss of 64.57 billion rupees, according to data compiled by LSEG.

Vodafone Idea's user base fell 2.4% sequentially and 6.7% year-on-year to 205 million as of Sept. 30, smaller than Jio's 478.8 million and Airtel's 407 million.

The decline resulted from the subscriber base, including 4G users, switching to cheaper alternatives like state-owned BSNL following price hikes.

All three Indian mobile carriers—Jio, Airtel, and Vodafone Idea—increased their tariffs in June for the first time in over two years, marking a shift in their strategy from aggressive competition for market share towards increasing profitability.

The increase in tariffs helped boost Vodafone Idea's average revenue per user (ARPU), a key performance metric for telecom firms, by 7.8% sequentially and 17% year-on-year to 166 rupees during the quarter.

However, its ARPU lagged behind that of Reliance Industries RELI.NS-owned Jio's 195.1 rupees and Bharti Airtel BRTI.NS's 233 rupees for the same period.

Vodafone Idea, formed by a merger between the Indian arm of the UK's Vodafone Group VOD.L and Aditya Birla Group's Idea Cellular in 2018, has posted a loss every quarter as it loses ground to larger rivals Airtel and Jio.

Vodafone Idea's revenue from operations during the quarter rose about 2% to 109.3 billion rupees, but fell short of analysts' estimates of 112.65 billion rupees.

Airtel and Jio previously reported upbeat quarterly profits led by the price hikes.

($1 = 84.3560 Indian rupees)

(Reporting by Aleef Jahan and Nishit Navin in Bengaluru; Editing by Abinaya Vijayaraghavan)

(([email protected]))