Telecom Seychelles Ltd.

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Bharti Global, a 100% subsidiary of Bharti Enterprises (India), received a 15-year license to provide national telecom services in Seychelles from the government in July 1997. The telecom network was officially launched in December 1998. The license covered comprehensive telecom services including basic telephony, GSM cellular servives, long distance and international telecom services, and a variety of value-added services. The partners were Bharti Global (51%), Jiwanjee Currimjee (via Emtel) of Mauritius (30%), Mr. Raza Bilgrami (7%), and local Seychellois (10%). The total cost of the network launch was US$25 million of which US$15 million was invested in this first phase. The services were operated by Telecom Seychelles Ltd., a company incorporated by Bharti Global under the brand name of Airtel. In December 2005, Telecom Seychelles announced that it would invest US$8.32 million in a 3G (third generation) network. By end 2005, Airtel had a market leading 35,596 subscribers. The company competed with Cables and Wireless, the once-monopoly operator on the Islands, and new market entrant Mediatech. Capex 2011 based on Bharti Airtel annual report: parent capex * subscribers Airtel country subsidiary / subscribers of total Bharti Airtel (200.878m)