The Bharti-MTN deal falling through largely disappointed the corporate India. This is the second time the much awaited deal came to a grinding halt. Why did the deal fall through? The reason was the much publicized lack of certain South African government approvals. In an interview with CNBC-TV18 Sunil Mittal, Chairman and MD, Bharti Enterprises said that the dual listed company (DLC) approval was not required in the first stage of their talks. “Maybe the government or treasury in their wisdom wanted to see the eventual path of where the companies will end up being in terms of the structure.”

Mittal further said that the company would add 100 million subscribers in the next three years and that the 100 m subscribers would primarily be from India. He further said that Bharti was most likely to bid for Wimax.

Here is a verbatim transcript of the exclusive interview with Sunil Mittal on CNBC-TV18.

Q: Let me begin by asking you, where did it really go wrong?

A: I think it is all in the public domain now. All of you have covered this event extremely well. I was surprised at the media coverage we have seen in this round for MTN. I mean the companies had come together to put out a partnership together, which was not to be. We needed certain approvals from the South African government, in particular their treasury, and that did not come through.

Q: MTN had actually applied and that is all that we heard officially about the exchange control exemption. Just for the sake of understanding, what really was it, and was it somehow connected with the dual listing or is it something different?

A: We would not know what applications were made. But yes, you are right, an application was made and I believe that a letter from treasury was received by them on September 11, which is when the dual listed company (DLC) issue came up. Why they required that approval, I don’t know. But the fact is that cross holding in stage 1 did not require a DLC because we were not seeking a merger. But maybe the government or treasury in their wisdom wanted to see the eventual path of where the companies will end up being in terms of the structure. That may have brought out that demand of DLC.

Q: Where would these invitations be welcome from?

A: I think our hand is known now. People know that we are keen to be in Africa, emerging markets. So, I am sure bankers have taken notice of what we have done in the last four months. Opportunities will hopefully show up.

Q: Are you convinced even now that in terms of your strategy of going abroad, seeking alliance with the emerging market operator, that is the way forward for Bharti?

A: Absolutely. If you have to be a global telecom player, we will get the size from India and then size and scale then allows us to take the business model outside India, where else but the emerging markets. We are here at the ITU talking to several African ministers, Prime Ministers and each one of them are looking forward to the low-cost business model being injected into the African continent. I think India therefore holds great promise for a lasting, solid, sustainable partnership with the telecom field.

Q: So, there is no question of sort of re-talking to MTN and as I understand the second time around it was the company that had approached Bharti and its bankers? Is that correct?

A: Phuthuma is the CEO of the company and I have been in touch constantly even after the first round. We are both peers in industry, leaders in our own continents. We were invited to this deal. In fact this was Phuthuma’s idea that we restart the talks and we like to be invited. We are not a company that makes moves without being invited. So, I am delighted that MTN saw in Bharti a partner that could have brought value, and we were invited onto the table. That is where we would like to concentrate as well in the future as well. Should there be more invitations coming through, we will talk.

Q: Is there a change of strategy in the way you will perhaps approach future deals?

A: I don’t think there is any hard and fast rule in engagement of such deals because they are significant deals. You never make hostile acquisitions, you offer a hand of friendship, partnership and what shape and size it takes will depend on the other side.

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Q:  So you are ruling out any other possible acquisition, you go out and acquire a majority stake in any operator in the world, it won’t work like that. That’s what you are saying?

A: Without the blessings of the existing management and significant share holders, no.

Q: Will Bharti-Airtel only participate in the 3G Auction or will you have a separate interest in the WiMax auction also which would represent a generational and strategic shift for the company?

A: Discussions are going on with the people who understand this area very well. I am always in favour of standardized solutions. WiMax is not at a point where you could call it standardized, that technology is different and there are camps which are still competing.

Q: A quick word on tariff. Currently we have one operator that has gone in for a per second billing plan, another operator yesterday announced a flat rate and said that per second billing doesn’t work. What is your take on that?

A: I think regulators have sensibly kept this sector on a forbearance basis. Given the intensity of competition in our sector, I think that is the right thing to do, just leave everybody alone. Everybody will ensure that they bring out packages, tariff plans, which are more suitable and attractive to customers so they can gain market share. The market is slugging it out. You see every day somebody is giving you seconds, somebody is giving flat tariffs, somebody is giving long distance concessions. All these things put together is good for the customers and let’s see where it goes. If somebody wants to give a flat rate versus per second billing, so be it.

Q: Bharti Airtel had maintained almost two quarters back that it would not play the tariff war game. But recently it has actually perhaps started responding to the pressure that the market might be creating. What are we to read into that?

A: We have always responded. Right from the day of tariff reduction going back many years, we have always responded. We cannot be sitting on the sidelines and watching tariffs go down and we don’t respond for the benefit of our customers. But yes, we do not run this industry into the ground. We don’t take leads and make tariff plans that are hurting the industry.

Q: Where will Bharti’s next 100 million subscribers come from?

A: If you give it a time of three years, that will come from India. But as you know we like to do things on an accelerated basis. So a combination of India plus something else would probably bring it down to two years.

Q: Where would that something else be?

A: Somebody has to come and approach us. We await.

source: CNBC TV18

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Airtel, Sunil Mittal, Wimax bid

RMSI Pvt Ltd The no. 1 great place to work for is Noida-based geo-spatial and IT maven, RMSI. The company not only the top list in great IT workplaces, but also the over all list. The Rs 104-crore company, which is yet to figure among the IT heavyweights, has bagged the `Best Employer’ tag three years in a row. As for what makes it a great work place is a terrific mix of independence and strong working ethos, along with flexibility to satiate one’s entrepreneurial streak. People can walk up to the senior management and discuss ideas to improve existing systems and processes. During the current downturn, the company’s MD and COO proactively addressed the employees and encouraged them to give their suggestions and feedback on prudent ways of controlling costs. Employees rave about the company’s Performance Management System. Apart from employees being able to calculate their own bonus, the process of observation ensures fairness and transparency in feedback sharing with the employee.

Intel India

The no. 2 on the Great Places to Work list is Intel India. The company which is rated best for Work Life Balance Intel believes that none of its employees actually leave their personality at home and come to work. Hence, efforts are constantly driven towards assimilating the culture of Intel along with different kinds of personalities in the organisation. Anish R, HR Director, South Asia, Intel, says that managing the ‘life requirements’ of employees is a big driving factor for them and all their activities are guided around this philosophy. The company has a strong emphasis on family, extra-curricular activities and volunteerism The culture at Intel has always been open with communication becoming very integral to the whole organisation. There are regular business update meetings every quarter, along with dissemination of corporate information worldwide giving enough clarity to the employees.

Google India

The third IT company in the Great Places to Work list is Google. Fifth in the overall ranking, Google has always strived to create the atmosphere of freedom with a sense of empowerment for its employees. According to Shailesh Rao, MD, Google India, there are four key characteristics they look at for in any prospective employee — purpose driven, cognitive ability, requisite work experience and leadership qualities. In essence, Google always look for smart and exceptional people. The entrepreneurial fervour runs very strongly within Google giving its people the maximum flexibility in terms of the work they would like to do. This is ably aided by lesser levels of managerial team allowing a free flow of information within the organisation. For example, appraisals in Google are not done just by the superiors but also by the peers and subordinates.

Qualcomm India Pvt Ltd

At no. 4 is Qualcomm India. Mumbai-based telecom company ranks at no. 6 in the overall survey list. At a time when various companies are laying off people, Qualcomm is reversing its role. In fact, the company is increasing investment in new ventures, CSR activities and doling out appraisals-twice a year. It has even doubled the life insurance coverage to twice the gross salary of employees. The telecom major’s Indian arm plans to emulate the ‘Global Intern Program’ , which involves offering interns the same benefits as regular employees, like stock options, relocation and housing assistance. Almost 30% of interns are absorbed in the company. To satisfy the entrepreneurial quest of employees, Qualcomm has started a QIN or, Qualcomm Innovation Network to help brilliant minds start their own ‘companies’ within the company. As part of the annual QIN Day, the companies start trading on a virtual exchange and employees buy their shares. The company with the highest ‘share price’ gets funded and Qualcomm helps the company to bring it to market. Apart from offering the work from home option, it’s the environment at Qualcomm that makes people stick on.

NetApp India

The fifth best IT company to work for ranks at no. 9 on the overall Great Places to Work list. Trust and integrity, among the other things, are the key elements of NetApp’s culture. During its recent global restructuring, which saw them letting go 6% of their workforce, they took utmost care so as to see that that the affected employees were not being left high and dry. To quote an example, they even allowed their employees to download whatever they had on their computers without any kind of interference or monitoring from the HR department. This handholding is also extended to the inducted employee who is given further integration by a senior employee of the company, in what is known as TOASTtraining on all special things.

Bharti Airtel

At no. 6 (11th on the overall list) is Sunil Bharti Mittal’s homegrown telecom empire Bharti Airtel. Talk therapy works best as the Bharti rank and file weave a common dream with immense pride. While that silhouettes a vision of transparency and growth, the ‘linking up India’ credo of the company fires up patriotic passion. The company lives up to its `Express Yourself’ tagline by directing function-specific recruitment tools to distinguish high potential candidates in specific jobs. Again, tools like skip level meetings (employees get to meet their skip or one level above their reporting managers) and reverse mentoring for mobile business board members by the younger generation, provide a level playing field across generations. Add to that robust leadership development initiatives across levels and better work-life balance (employees are discouraged to sit in office beyond 8 pm).

Agilent Technologies

At no. 12 on the over all list, Agilent Technologies is the seventh best technology workplace. The new-age Agilent is at the helm of cutting-edge science and technological innovation and application. With the average age at 28 years, the tech czar leverages technology to enable information exchange, transparency, empowerment, collaboration and employee development. Generation Y (Gen Y), 50% of Agilent’s workforce, naturally is at its core. So, all initiatives are directed to touch the youth. That includes compensatory off and travel during weekdays. Also, employees are given four hours of paid time off every month to work on Agilent’s CSR initiatives.

Corbus India Pvt Ltd

At no. 17 on the over all list is Corbus India. Plug in to work and play in equal degree. Corbus India’s transparent and accessible management culture has produced a fun and friendly place to work where employees rave about their professional growth and the spirit of oneness. High on the ex-factor, flowers and missing-you-cards are sent out for former employees. The twin recreation clubs – Chaupal and Taffari – are also quite a draw, as are in-house functions like ‘Family Day’, wherein spouse and kids visit the workplace. And nobody’s complaining with the Corbus Cultural Committee organising events, like Corbus Week, Monthly Event, Get-Together, Annual Day et al.

Tavant Technologies Pvt Ltd

At no. 18th on the overall list is Tavant Technologies. Tavant employees supported by accessible managers work hard and party harder. About 60% of employees can work from home and almost everyone uses some aspect of their flexible working policy. The top 10 per cent key performers in the company – `Bar Raisers’ – form part of the selection process (mandatory). They have a veto power in the selection and direct access to the CEO in case of nonconcurrence in hiring. Tavant has an internal whitepaper contest that helps employees venture into new areas, especially emerging technologies that they may not be exposed to in their current projects. Those who submit well-researched whitepapers gain recognition and attractive prizes.

MindTree Ltd

At no. 19 on the overall list is MindTree. Exemplary when it comes to cascading values down to the lowest level of employee, MindTree lives by its DNA of imagination, action and joy. At its core, lie the much touted CLASS values – Caring, Learning, Achieving, Sharing and Social Responsibility. In the PAL (Parent, Anchor and Leader) induction programme, each batch is divided into three houses (the Houses of Imagination, Action and Joy) and each house has 200 campus minds and a PAL (Parent, Anchor and Leader). But the minds are without fear as both immediate and long-term goals are addressed. Hence, short-term projects and practices as well as longer-term objectives of instilling self-leadership, values and professionalism, are given their due.

iNautix Technologies India Pvt Ltd

At no. 20 on the overall list is iNautix Technologies. Techies with a common takeout, those who work for iNautix are ecstatic. The CSR programme too gets a decent round of applause from the employees. The company’s informal mentoring programme provides opportunities to all global employees regardless of their location, level, business or function. Mentors and mentees are paired through an automated ‘matching’ system called the informal mentoring system (IMS). The mentor-mentee relationship then blooms into a positive equation for long-term objectives of the company.

Accenture Services
	Accenture Services ranks in the following 25 in the over all list Employees are spoilt for choices when it comes to development options. Accenture has all the making of a great workplace, albeit institutionalising workplace fairness for such a huge workforce continues to be a challenge.

Acclaris Business Solutions
	Workplace camaraderie and transparency offers a great environment. The company stands out for its policy to hire people from socially and financially weaker sections.

Infosys Technologies
	Employees know when it comes to the crunch, management will always keep their interests in mind. World class facilities, the professional development of staff, or protecting jobs, the management has always walked the talk.

Intelnet Global Services
	Intelenet has shown remarkable orientation in combining the use of scientific assessment tools, measurement techniques, with human touch, in their hiring and development of employees.

Intuit Technologies Services
	There is no hierarchy evident in Intuit Technologies Services, everybody is very friendly and easily approachable, as Intuit Follows an open door policy.

LG Electronics India
	LG has built a reputation for customer orientation and service. This coupled with robust training & development initiatives and a culture of gain sharing , infuses a sense of collective ownership among the employees.

Paypal India
	Pay Pal India offers quite an impressive repertoire in the areas of employee development, an environment of fun at the workplace. However, scaling up successfully will be its true baptism by fire.

TCS-BPO
	High standards of ethics. There is special focus on keeping Gen Y engaged by offering them a foreseeable career path & development. Amazing degree of collaboration between management & employees.

ValueLabs
	One of the few Indian companies to offer significant work-life balance and flexibility to employees. Employees appreciate the facilities including free food and cab facility being provided by the organisation.

Source : Indiatimes Infotech

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