Airtel unit to buy Orascom's stake in Middle East submarine cable system firm

Bharti Airtel's subsidiary Network i2i Ltd Tuesday said it has signed a pact with Orascom Telecom Media and Technology Holding S.A.E to acquire the latter’s entire equity stake in Middle East North Africa Company Submarine Cable Systems S.A.E (MENA-SCS).

The statement added that the acquisition is subject to requisite regulatory approvals.

A 100% subsidiary of Orascom, MENA – SCS, owns and operates a submarine cable network between India and Europe covering Middle East, with options to extend the network to Africa. “MENA cable is live and operational connecting Mumbai - Oman - Saudi Arabia - Egypt and Italy,” the statement added.

The proposed acquisition of MENA-SCS, Airtel said, was aimed at further strengthening its global network that currently runs across 225,000 route kms, covering 50 countries and five continents.

“The additional capacity will enable Airtel to serve the growing demand for data services and enterprise services across its footprint of 18 countries across South Asia and Africa”.

Ajay Chitkara, Director and CEO - Global Voice & Data Business, Bharti Airtel, said that with the explosion of data usage in emerging markets, including India and Africa, this asset will provide the company a scalable and diverse high capacity highway to serve our customers.

He further said that, it would also provide impetus to India’s emergence as a major regional internet hub serving customers across SAARC region, with seamless global connectivity.