Bharti Airtel is looking forward to joining hands with one of its biggest rivals Vodafone Idea. The company hopes that it can share the fiber networks so that the company can raise funds by monetizing it. Bharti Airtel is in search of ways that can help the company to regain its leadership in revenue income.
According to a company official, Bharti Airtel has already worked with Vodafone Idea in the past. The companies have built fiber together and now Airtel wants to create a single company by partnering with Vodafone Idea.
The fiber network company will reflect on monetizing the project. However, as per the officials, the plan of Bharti Airtel is to co-own the company with one of its most significant competitors. Vodafone Idea and Bharti Infratel already own the largest telecom tower in India, Indus Towers.
For the last two years, both Bharti Airtel and Vodafone Idea have been facing intense competition from the relatively new competitor Reliance Jio. The revenue of the companies has reduced significantly. Therefore, the companies are in quest of funds to expand their operations.
Vodafone India and Idea Cellular merged together to form the new company Vodafone Idea in August 2018. The company recently decided to monetize its fiber assets through an exclusively owned unit.
On the other hand, Bharti Airtel has not only been selling stakes in Bharti Infratel but the company has also been using its shares in its Africa business privately. Although Bharti Airtel has faced stiff competition from Reliance Jio, it has been able to retain its customer base. The company has not reduced the tariff. However, it has offered a free subscription to Amazon Prime and Netflix to attract customers.
Now, Bharti Airtel wants to recover its top position in revenue market share by the end of the first quarter of 2019.