Follow Up to "Emerging Markets - Engines of Growth" Blog
Gosh, it is nice to be substantiated... On the10 November 2009, I blogged on Emerging Markets being an invaluable, almost essential, engine of growth for an aspiring or successful wireless carrier. The blog was a write up of comments I had made in a CNBC Asia TV interview that addressed SingTel's and Starhub's forthcoming financial results... Fast forward a day...In SingTel's 3Q-2009 Earning's Call, senior management announced that SingTel is stepping up its commitment to Emerging Markets. Notably SingTel is pursuing investment opportunities in Africa and also SE Asia, especially Viet Nam. Singtel is a major investor in Bharti Airtel (India) and was a firm supporter of Bharti's merger bid for MTN, a mobile carrier group with a footprint across Africa and the Middle East, but the South African group vetoed the merger. Singtel could be angling to take a minority stake in MTN... or take a "pick and mix" from a selection of African and Middle East operators. Of course, the main challenge is, carriers like SingTel, may go window shopping but might not find goods with a sales tag. Or the price is a little too rich.