Bharti scouting for acquisitions in emerging markets

NEW DELHI: After the failed attempt to acquire South African telco MTN, country's leadingcellular player Bharti Airtel today said it is keen to buy companies overseas, mostly in emerging markets, to expand its footprint.

"Our interest (to acquire) companies abroad remains as strong as it was. We are ready to go for acquisition mostly in emerging markets.We will look at all options," Bharti Enterprises' Managing Director Akhil Gupta told reporters here.

"We believe we are in a position to acquire a company and replicate the unique model based on low-cost and low-tariff," he said.

Bharti, which has got licences in Seychelles, Channel Islands, Jersey Islands and Sri Lanka, had bid to acquire MTN earlier this year.

However, talks between Bharti and South Africa's MTN Group did not materialise as differences surfaced over the control of the combined entity. Shares of the company closed at Rs 765.45, down 1.70 per cent, on the Bombay Stock Exchange today.