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<ul><li><keyword id="363206" type="COMPANY" weightage="20" keywordseo="Airtel-Africa">Airtel Africa</keyword> has raised the investment from the Rise Fund, which is the alternative investment firm of American PE giant TPG.</li><li>The investment comes in mainly for Airtel Mobile Commerce BV, which is the mobile money operations wing.</li><li>The company now aims to raise more funds before heading for an eventual listing in four years.</li></ul>Sunil Mittal-owned Airtel Africa, which offers telecommunications and mobile money services, has raised $200 million investment from the Rise Fund, which is the alternative investment firm of American PE giant TPG. Interestingly, TPG has invested in Airtel’s India rival Reliance Jio Platforms. The investment comes in mainly for Airtel Mobile Commerce BV, which is the mobile money operations subsidiary of Airtel Africa. The company said, in a stock exchange filing, that it “is now intended to own and operate the mobile money businesses across all of Airtel Africa's fourteen operating countries.” “The transaction will close in two stages. $150 million will be invested at first close, once the transfer of sufficient mobile money operations and contracts into AMC BV has been completed, with $50 million to be invested at second close upon further transfers,” said the company. The mobile money business is now valued at $2.65 billion. Operating under the brand name ‘Airtel Money,’ it offers financial services from wallet, merchant payments, transfers, loans and virtual credit cards and more. The company now aims to raise more funds before heading for an eventual listing in four years. “The group is in discussions with other potential investors in relation to possible further minority investments into Airtel Money, up to a total of 25% of the issued share capital of AMC BV,” said the statement. SEE ALSO: <a href="http://businessinsider.in/business/auto/news/nitin-gadkari-today-announced-the-vehicle-scrappage-policy-in-the-lok-sabha/articleshow/81568213.cms">Nitin Gadkari announces vehicle scrappage policy – lists out possible benefits on road tax, cheaper new cars and lower pollution</a>

Airtel Africa gets $200 million investment from Rise Fund at a valuation of $2.65 billion – to list its mobile money unit in four years

<ul><li>Five months ago, there was a question on whether the Africa unit will survive. </li><li>However, the London-listed company has clocked a revenue growth of over 10% for nine quarters now, reaching nearly $900 million at the end of March.</li><li>The average revenue per user in Africa is 40% more compared to India.</li><li>Here, we decode what is driving the growth in <keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword>’s Africa unit and what lies in its future ahead.</li></ul>Five months ago, Airtel was wondering whether the Africa business was viable at all. Now, it has posted a 72% jump in pre-tax profit and is planning to invest another <a href="https://www.businessinsider.in/business/news/expect-to-spend-planned-usd-650-700-mn-capex-in-fy21-airtel-africa/articleshow/75721818.cms">$700 million capital expenditure</a> in the continent. There's a good reason why telecom tycoon Sunil Mittal— <a href="https://www.forbes.com/profile/sunil-mittal/#71631b7e18cb">worth over $11 billion as per Forbes⁠</a>— is backing his instincts in Africa. At nearly $900 million in the latest third quarter, the Africa unit’s revenue is nearly a fourth compared to India business; though analysts at Edelweiss have ascribed about 10% of the <keyword id="4792703" type="PERSON" weightage="20" keywordseo="airtel-share-price">Airtel share price</keyword> in India as value of the company’s stake in the Africa business. The rate of subscriber addition in Africa has increased from 1.9 million at the March 2019 to consistently over 3 million in each of the last three quarters. <div type="image" title="Airtel Africa subscriber arpu" msid="75970653" hostid="261" caption="&amp;lt;p&amp;gt;Airtel Africa Subscriber and ARPU growth&amp;lt;/p&amp;gt;"></div> “The last 12 months have been good for us. Our revenue growth has been about 13.8%, we’ve increased our EBITDA margins to 44.3% and our free cash flows have doubled this year to $453 million. We have enough finances to tide over this COVID-19 period,” Raghunath Mandava, CEO of <keyword id="363206" type="COMPANY" weightage="20" keywordseo="Airtel-Africa">Airtel Africa</keyword> <a href="https://www.cnbcafrica.com/earnings/2020/05/13/airtel-africa-sees-increase-in-fy-revenue-remains-bullish-on-africas-outlook/">told</a> CNBC Africa. EBITDA stands for earnings before interest, tax, depreciation, and amortisation and it is a metric to measure the strength of the company’s core business. <div type="image" title="Airtel Africa revenue and profits" msid="75970757" hostid="261" caption="&amp;lt;p&amp;gt;Airtel Africa revenue and profits in the last five quarters&amp;lt;/p&amp;gt;"></div> The reason for doubt in the last one year Airtel’s Africa unit got listed in the London Stock Exchange in June 2019 and it got a disastrous welcome, <a href="https://economictimes.indiatimes.com/markets/stocks/news/airtel-africa-falls-16-after-london-listing/articleshow/69997982.cms">falling over 16%</a> on day one. Investors didn’t like the prospects much and, as expected, profit fell in three out of the last five quarters. However, the fall in profit was primarily due to currency devaluation in important markets like <a href="https://www.reuters.com/article/nigeria-currency/update-3-nigeria-central-bank-devalues-official-fx-rate-by-15-after-trade-with-local-bank-traders-idUSL8N2BD78E" data-type="tilCustomLink">Nigeria</a>, which makes for 40% of the telecom operator’s annual revenue in Africa. The company lost nearly 9% of the revenue to the exchange rate loss, according to an Emkay Research report dated May 19. Airtel Africa’s ARPU is 40% higher than it is in India Another surprising statistic revealed in the latest Edelweiss report is that Airtel average revenue per user (ARPU) in Africa is ₹210, nearly 40% higher than the ₹154 it makes from the Indian users. <div type="image" title="Airtel Africa and India ARPU" msid="75970774" hostid="261" caption="&amp;lt;p&amp;gt;Airtel Africa and India ARPU comparison&amp;lt;/p&amp;gt;"></div> And there’s headroom for growth too... It is worth highlighting that out of the 110 million subscribers of Airtel Africa in Q4 2020, only 35 million used data services. “The way Africa is now, we have unique customer penetration of 45%, smartphone penetration is between 35-40%. That means there is potential to grow voice, data and because of lower banking penetration, there is enough potential to grow mobile money,” Mandava further added, highlighting the growth potential in Africa. Analysts are bullish on the Airtel stock Airtel has been on a rally of late with its stock increasing by 20% in the last one month. On one hand, the India business is narrowing down to a duopoly between Airtel and Reliance Jio [can hyperlink to one of BI’s stories on this] and on the other hand, the revival in Africa business has impressed analysts. Looking at its Q4 2020 performance, analysts have revised their target price for Airtel stock listed in India to as high as ₹712, another 20% from the compared to the closing price on May 22. <div type="javascript" title="Custom" contenttype=""><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2546039" data-url="https://flo.uri.sh/visualisation/2546039/embed"></div>]]></cdata></div> “The company’s ability to garner smartphone subscribers will aid revenue market share as this segment has the highest propensity to pay and would benefit operators the most should tariffs rise or the industry consolidate,” said Edelweiss research in its latest report dated May 19, 2020. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">CLSA </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 670 </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Morgan Stanley </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 575 </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Credit Suisse </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 600 </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 712 </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 655 </td></tr><tr><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Emkay </td><td style="border-left:solid #000000 0.99375pt;border-right:solid #000000 0.99375pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.99375pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 610 </td></tr></tbody></table> Source: <a href="https://economictimes.indiatimes.com/markets/stocks/news/why-did-bharti-airtel-rally-10-despite-rs-5237-crore-q4-loss/articleshow/75819064.cms" data-type="tilCustomLink">Economic Times</a> SEE ALSO: <a href="http://businessinsider.in/business/news/unicef-airtel-africa-team-up-to-support-children-families-affected-by-covid-19/articleshow/75847839.cms">UNICEF, Airtel Africa team up to support children, families affected by COVID-19</a> <a href="https://www.businessinsider.in/stock-market/news/airtel-shares-set-for-a-catch-up-rally-after-reliance-jio-takes-a-huge-valuation-lead/articleshow/75533860.cms">Airtel shares set for a catch up rally after Reliance Jio takes a huge valuation lead</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-signs-7636-crore-deal-with-nokia-to-enhance-4g-network-lay-foundation-for-5g-network/articleshow/75423000.cms">Airtel signs ₹7,636 crore deal with Nokia to enhance 4G network, lay foundation for 5G network</a>

Airtel’s Africa unit is now a nearly-billion dollar business where every user pays 40% more than the one in India

<ul><li>If the deal goes through, Amazon will get a 5% stake in <keyword id="15491" type="COMPANY" weightage="20" keywordseo="Airtel">Airtel</keyword> for $2 billion.</li><li>This deal would value Airtel at $40 billion, which is roughly 60% of its rival Jio Platforms. </li><li>Analysts suggest that the Jio’s $10 billion fundraising efforts are likely to be a positive for Airtel as well.</li></ul>India seems to be the latest battleground for global internet giants like Amazon, Google, and Facebook and the beneficiaries’ list just included Sunil Mittal-owned Airtel, after Mukesh Ambani’s Reliance Jio and Kumar Mangalam Birla’s Vodafone Idea. Amazon is looking to acquire a $2 billion stake in Airtel, one of the leading telecom players in India. At $2 billion, the e-commerce giant would get a stake of roughly 5% in the telco, which has more than 300 million subscribers. According to a <a href="https://www.reuters.com/article/us-amazon-india-bharti-exclusive/exclusive-amazon-in-talks-to-buy-2-billion-stake-in-indian-telco-bharti-airtel-sources-idUSKBN23B1F8" data-type="tilCustomLink">report</a> by Reuters, the talks between Amazon and Airtel are still in early stages, and the details of the deal could change at any point. It is also possible that a deal might not be reached, but it seems unlikely for Amazon to drop out now that its peers have either reached a deal or are in talks with Jio. <div type="Article" hostid="261" msid="75970641" title="Airtel’s Africa unit is now a nearly-billion dollar business where every user pays 40% more than the one in India" mstype="2" mssubtype="0"></div> The talks about Amazon’s $2 billion investment in Airtel come at a time when RIL’s Mukesh Ambani has already raised $10 billion by selling nearly 16% stake in Jio to various firms, including Facebook and KKR. Another US tech giant, Google, is also <a href="https://www.businessinsider.in/tech/news/google-explores-5-stake-in-struggling-vodafone-idea-report/articleshow/76070370.cms">reportedly in talks</a> to pick up a 5% stake in troubled telco Vodafone Idea. Its shares have since rallied by more than 50% since the news broke. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market value (in crore) </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Promoter (in crore) </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.99375pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Networth (in crore) </td></tr><tr><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Jio </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹4,84,900 </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹4,02,758 </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.99375pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹2,05,753 </td></tr><tr><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Airtel </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹3,12,685 </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹1,21,291 </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹1,01,429 </td></tr><tr><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vodafone Idea </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹24,768 </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹4,577 </td><td style="border-left:solid #000000 0.496875pt;border-right:solid #000000 0.496875pt;border-bottom:solid #000000 0.496875pt;border-top:solid #000000 0.496875pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> ₹59,635 </td></tr></tbody></table> Sources: BSE, Moneycontrol Note: 1. Reliance Jio’s market value is based on its latest fundraising. Its networth was arrived at as a proportion of its market value with respect to its parent company, Reliance Industries. 2. Vodafone Idea’s networth figures are from March 2019, as figures for 2020 are not available yet. For Amazon, too, India is an important market – it has so far committed $6.5 billion to expand its e-commerce business in the country. The importance of the Indian market to it was established recently when it <a href="https://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/amazon-says-india-lockdown-has-hit-it-the-hardest-internationally/75490387">reported</a> that the Coronavirus lockdown in India has hit its business the hardest. Airtel shares rallied 5% in the last 10 minutes of trading. It opened on June 4 morning at ₹553.55 and closed the day at ₹573.15, up by nearly 4%. The Reuters report was out minutes before the markets closed for the day. Airtel, too, has raised $3 billion in January this year Not to be left behind, Airtel too has raised $3 billion in January this year. The fundraising was done by way of qualified institutional placement (QIP) worth $2 billion and through issue of foreign currency convertible bonds (FCCB) worth $1 billion. Analysts <a href="https://www.businessinsider.in/stock-market/news/airtel-shares-set-for-a-catch-up-rally-after-reliance-jio-takes-a-huge-valuation-lead/articleshow/75533860.cms">suggest</a> that Airtel has been one of the more resilient stocks in the market even as the economic downturn and Coronavirus crisis have wiped lakhs of crores of investor wealth. Jio’s fundraising efforts to benefit Airtel too, and the Amazon deal could be just the first Mukesh Ambani’s fundraising efforts are likely to benefit Airtel as well. Analysts believe that there are positives for Airtel. Now, reports of the Amazon deal suggest that their words could ring true soon. "Expect positive for Bharti Airtel after US based fund Silver Lake partner bought Reliance Jio stake at a premium. Higher valuation on Reliance Jio may be positive for Bharti Airtel," <a href="https://twitter.com/MotilalOswalLtd/status/1257514187766460416">said</a> Motilal Oswal. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/airtel-shares-set-for-a-catch-up-rally-after-reliance-jio-takes-a-huge-valuation-lead/articleshow/75533860.cms">Airtel shares set for a catch up rally after Reliance Jio takes a huge valuation lead</a> <a href="https://www.businessinsider.in/business/news/bharti-airtels-q4-loss-at-rs-5237-cr-full-year-losses-balloon-to-rs-32183-cr/articleshow/75814397.cms">Airtel shares jump by 10% despite an unexpected quarterly loss</a> <a href="https://www.businessinsider.in/business/corporates/news/airtel-share-price-target-as-africa-unit-nears-a-billion-dollars-in-revenue/articleshow/75970641.cms">Airtel’s Africa unit is now a nearly-billion dollar business where every user pays 40% more than the one in India</a>

Amazon reportedly wants Airtel stake for $2 billion ⁠— and a partnership like Jio-Facebook and possibly, Google-Vodafone Idea

Music producer-composer <keyword id="39150" type="LOCATION" weightage="20" keywordseo="Kanye-West">Kanye West</keyword> is the richest Black person in the <keyword id="6356955" type="LOCATION" weightage="20" keywordseo="united-states">United States</keyword>, according to a report in <keyword id="29740" type="LOCATION" weightage="20" keywordseo="Bloomberg">Bloomberg</keyword>. The 43-year-old's net worth is close to $6.6 billion, thanks to his sneaker and apparel business, Yeezy. The report suggests that his brand's tie-up with <keyword id="6377547" type="PERSON" weightage="20" keywordseo="adidas">Adidas</keyword> and <keyword id="6431981" type="COMPANY" weightage="20" keywordseo="gap">GAP</keyword> is estimated to be between $3.2 and 4.7 billion. His new tie-up with GAP, which will hit stores this summer in the US is estimated to be worth $970 million. An unaudited balance sheet of <keyword id="6576454" type="UNKNOWN" weightage="20" keywordseo="west">West</keyword>'s finances provided by his lawyer to Bloomberg includes another $122 million in cash and stocks, and more than $$1.7 billion in other assets including a significant investment in Skims, <keyword id="6357837" type="PERSON" weightage="20" keywordseo="kim-kardashian">Kim Kardashian</keyword>'s underwear label. The report also noted that West's entire music catalogue is worth $110.5 million, according to a 2020 valuation. West and his wife, reality star Kim Kardashian, recently filed for divorce after being married for seven years. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-wipro-consumer-and-ascent-capital-invest-in-beauty-brand-myglamm/articleshow/81563765.cms">Amazon, Wipro Consumer and Ascent Capital invest in beauty brand MyGlamm</a> <a href="https://www.businessinsider.in/international/news/japan-is-the-only-country-that-does-not-allow-same-sex-marriage-within-the-g7/articleshow/81563467.cms">Japan’s same-sex marriage ban ruled ‘unconstitutional’ as India’s LGBTQ community waits in hope</a> <a href="https://www.businessinsider.in/business/telecom/news/sunil-mittal-owned-airtel-africa-has-raised-200-million-investment-from-the-rise-fund-current-valuation-of-this-mobile-money-company-2-65-billion/articleshow/81569505.cms">Airtel Africa gets $200 million investment from Rise Fund at a valuation of $2.65 billion – to list its mobile money unit in four years</a>

Music producer-composer Kanye West is the richest Black American with $6.6 billion net worth, says report

<keyword id="5065" type="LOCATION" weightage="20" keywordseo="Ahmedabad">Ahmedabad</keyword>, <keyword id="6355981" type="LOCATION" weightage="20" keywordseo="england">England</keyword> won the toss and chose to bowl in the fourth T20I against India on Thursday at the Narendra Modi Stadium in Motera near Ahmedabad. England lead the series 2-1 and are one win away from sealing a series win. England: Jason Roy, Jos Buttler (wicketkeeper), Dawid Malan, Jonny Bairstow, <keyword id="52739" type="PERSON" weightage="20" keywordseo="Eoin-Morgan">Eoin Morgan</keyword> (captain), Ben Stokes, Sam Curran, Chris Jordan, Jofra Archer, Adil Rashid, Mark Wood India: Rohit Sharma, KL Rahul, <keyword id="6354486" type="PERSON" weightage="20" keywordseo="virat-kohli">Virat Kohli</keyword> (captain), Suryakumar Yadav, Rishabh Pant (wicketkeeper), <keyword id="982208" type="PERSON" weightage="20" keywordseo="Shreyas-Iyer">Shreyas Iyer</keyword>, <keyword id="6354903" type="PERSON" weightage="20" keywordseo="Hardik-Pandya">Hardik Pandya</keyword>, Washington Sundar, Shardul Thakur, <keyword id="479464" type="PERSON" weightage="20" keywordseo="Bhuvneshwar-Kumar">Bhuvneshwar Kumar</keyword>, Rahul Chahar SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/sunil-mittal-owned-airtel-africa-has-raised-200-million-investment-from-the-rise-fund-current-valuation-of-this-mobile-money-company-2-65-billion/articleshow/81569505.cms">Airtel Africa gets $200 million investment from Rise Fund at a valuation of $2.65 billion – to list its mobile money unit in four years</a> <a href="https://www.businessinsider.in/policy/news/indias-supreme-court-looks-into-allegations-of-nearly-four-crore-ration-cards-being-cancelled-because-they-were-not-aadhaar-linked/articleshow/81570339.cms">A Dalit mother lost her ration card and then her child to starvation — her fight for justice has now become a national cause at the SC</a> <a href="https://www.businessinsider.in/business/corporates/news/delhi-high-court-brings-up-civil-prison-for-violation-directs-future-group-to-recall-approvals-granted-to-future-retail-reliance-deal/articleshow/81570521.cms">Kishore Biyani vs Amazon – Delhi High Court brings up ‘civil prison’ for violation by Future Group, asks for recall of approvals granted to Future Retail-Reliance deal</a>

4th T20I: England wins toss, choose to bowl first against India

<ul><li>According to the report, Google is looking to acquire a stake of 5% in <keyword id="1553175" type="COMPANY" weightage="20" keywordseo="Vodafone-Idea">Vodafone Idea</keyword>.</li><li>The news comes after Facebook picked up a 9.99% stake in leading telecom operator Reliance Jio for $5.7 billion.</li><li>Google’s interest in Vodafone Idea could be an after-thought, after it reportedly missed out on the Jio deal to Facebook.</li></ul>Shares of Vodafone Idea have surged by more than 30% on May 29 after reports suggested Google is exploring a stake purchase in struggling telecom operator. The move comes after Facebook picked up a 9.99% stake in Reliance Jio, India’s leading telecom operator. According to a <a href="https://www.ft.com/content/3f763918-d0b1-4a02-a581-e241753c75eb">report</a> by Financial Times, Google could pick up a 5% stake in Vodafone Idea. The report also adds that the talks are still in a “very early stage”, so the details of the deal could change. The report further adds that Google is also in talks to acquire a stake in Reliance Jio, and that the talks are still ongoing. However, since <a href="https://www.businessinsider.in/business/news/why-facebook-owner-mark-zuckerberg-wants-stake-in-mukesh-ambani-owned-reliance-jio/articleshow/74803994.cms">Facebook has already joined Jio</a>, it might make sense for Google to pick up a stake in Vodafone Idea, which is the second largest telco in the country by number of subscribers. <div type="Article" hostid="261" msid="74964136" title="A new research report says Vodafone Idea has to increase tariff by 39% to survive – and that will be a bounty for Reliance Jio and Airtel" mstype="2" mssubtype="0"></div> <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2615319" data-url="https://flo.uri.sh/visualisation/2615319/embed"></div>]]></cdata></div> Note: Vodafone Idea's share price on 29-05-2020 is taken at 12:10 pm. A deal with Vodafone Idea could also come at a comparatively discounted price. Even though its share price has increased by 84% since March, it is relatively cheaper when compared to rival telecom operators like Airtel. <table><tbody><tr><td>Company</td><td>Market capitalisation (in crore)</td></tr><tr><td>Reliance Jio</td><td>₹4,89,075</td></tr><tr><td>Airtel</td><td>₹3,07,000</td></tr><tr><td>Vodafone Idea</td><td>₹16,665</td></tr></tbody></table> Note: Reliance Jio's valuation is based on the latest investment made by KKR. Airtel and Vodafone Idea's valuations are based on the closing price as on May 28, 2020. Vodafone Idea and its timeline of woes Since the entry of Jio, Vodafone Idea has <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-and-its-timeline-of-woes/articleshow/74577942.cms">posted cumulative losses</a> of ₹77,000 crore, with ₹50,922 crore coming in September 2019 alone. It was hit by a demand of ₹53,000 crore by the Supreme Court for recovery of adjusted gross revenue dues. In November 2019, the telco’s UK parent Vodafone Plc wrote down the value of its Indian entity to nil. It also lost 36 million subscribers in the same month. According to the <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambanis-reliance-jio-becomes-the-largest-telco-by-revenue-and-subscribers-as-industry-shows-signs-of-recovery/articleshow/73667566.cms">latest numbers</a> released by the Telecom Regulatory Authority of India (TRAI), Vodafone Idea has 336 million subscribers, while Jio is <a href="https://www.businessinsider.in/business/corporates/news/microsoft-mukesh-ambani-reliance-jio-are-partners-but-satya-nadella-wants-more/articleshow/76057690.cms">said</a> to have 387 million subscribers. <div type="Article" hostid="261" msid="74577942" title="Vodafone Idea and its timeline of woes" mstype="2" mssubtype="0"></div> The Indian telecom sector is too lucrative for the big tech companies to ignore The Indian telecom sector presents a good investment opportunity for big tech companies to expand their presence in the country. Although Vodafone Idea’s status is <a href="https://www.businessinsider.in/business/telecom/news/bharti-airtels-ceo-wants-vodafone-idea-to-survive-and-stay-on/articleshow/73973990.cms">critical right now</a>, the recent price hikes by all the three major telecom companies gives it a chance to survive in the market. Further, the Jio-Facebook deal has opened up the Indian telecom sector for investments. Since the deal with Zuckerberg’s company, Jio has found buyers in KKR, General Atlantic, Silver Lake and Vista Equity Partners. Airtel, the third-biggest telco, is also <a href="https://economictimes.indiatimes.com/markets/stocks/news/airtel-parent-to-raise-1-billion-via-share-sale-today/articleshow/75989710.cms">looking to raise</a> $1 billion by selling a 2.75% stake to Fidelity, Segantii Capital, Norges Bank and others. Jio changed the face of Indian telecom sector India’s telecom sector has seen major upheaval since the entry of Mukesh Ambani-led Reliance Jio. After Jio’s entry, the Indian telecom sector has seen minor players like Tata Docomo, Aircel, Reliance Communications, Telenor either wind up or sell their business to Airtel. Amidst all this, Vodafone and Idea, which were two separate operators, decided to merge in 2018 to take on Reliance Jio. However, since then, the merged entity Vodafone Idea has been losing millions of customers due to multiple issues, including business uncertainty and a fall in its quality of service. Jio was the major beneficiary of this, going on to become the <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambanis-reliance-jio-becomes-the-largest-telco-by-revenue-and-subscribers-as-industry-shows-signs-of-recovery/articleshow/73667566.cms">largest telecom operator in India</a> both by revenue and number of subscribers. Update: Vodafone Idea in a statement to NSE has said, "As part of corporate strategy, the company constantly evaluates various opportunities for enhancing the stakeholders’ value. As and when such proposals are considered by the Board of Directors of the Company warranting disclosures, the Company shall comply with the disclosure obligations under the SEBI Regulations. Currently, there is no proposal as reported by the media that is being considered at the Board." SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/airtel-share-price-target-as-africa-unit-nears-a-billion-dollars-in-revenue/articleshow/75970641.cms">Airtel’s Africa unit is now a nearly-billion dollar business where every user pays 40% more than the one in India</a> <a href="https://www.businessinsider.in/business/telecom/news/if-vodafone-idea-increases-tariff-it-will-help-airtel-and-reliance-jio/articleshow/74964136.cms">A new research report says Vodafone Idea has to increase tariff by 39% to survive – and that will be a bounty for Reliance Jio and Airtel</a> <a href="https://www.businessinsider.in/business/telecom/news/india-is-changing-its-mobile-habits-and-that-can-help-airtel-and-vodafone/articleshow/75152973.cms">India is changing its mobile habits and that can help Airtel and Vodafone</a>

Vodafone Idea shares surge more than 30% after Google reportedly considers a stake in the debt-laden telco

Earlier available on the <keyword id="3347532" type="PERSON" weightage="20" keywordseo="desktop-version">desktop version</keyword>, <keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword> has now expanded the support of <keyword id="10480632" type="UNKNOWN" weightage="20" keywordseo="physical-security-keys">physical security keys</keyword> for two-factor authentication (2FA) on <keyword id="113674" type="TECHNOLOGY" weightage="20" keywordseo="mobile-devices">mobile devices</keyword>. Starting from Friday, the <keyword id="66720" type="PERSON" weightage="20" keywordseo="users">users</keyword> can set up two-factor authentication and log into Facebook on iOS and Android mobile devices globally, including India, using a security key. Facebook had allowed security key support for the desktop version since 2017. "Since 2017, people on Facebook have been able to use physical security keys to log into their accounts on desktop to better protect their information from malicious hackers," the3 social network said in a statement, adding that people can now set up 2FA on on iOS and Android mobile devices as well. Two-factor authentication is a security feature that helps safeguard your account every time you log into your Facebook account from an unknown device by requiring something you know (your password) and something you have. Typically, an SMS code is sent to your mobile phone or Authenticator app. "It's much harder for a bad actor to obtain both factors, which keep your password from being your last line of defense against phishing or other malicious attempts to compromise your information," said the company. Earlier this week, Twitter announced to let people use security keys as the only authentication method soon, adding that the micro-blogging platform will allow multiple security keys per account instead of just one. Currently, Twitter users can use a security key to sign in and also need an authenticator app or SMS code as another 2FA (two-factor authentication) method. Physical security keys  which can be small enough to fit on your keychain  notify you each time someone tries accessing your Facebook account from a browser or mobile device we don't recognize. "We ask you to confirm it's you with your key, which attackers don't have," Facebook said. High-risk users like politicians, public figures, journalists and human rights defenders need extra account protection. "We strongly recommend that everyone considers using physical security keys to increase the security of their accounts, no matter what device they use," Facebook said. One can purchase security keys directly from companies that make them (Facebook doesn't manufacture hardware keys). The keys can either work through Bluetooth technology or by plugging it directly into your phone. One can enroll security key in two-factor authentication within the Security and Login section in the settings, Facebook added. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/sunil-mittal-owned-airtel-africa-has-raised-200-million-investment-from-the-rise-fund-current-valuation-of-this-mobile-money-company-2-65-billion/articleshow/81569505.cms">Airtel Africa gets $200 million investment from Rise Fund at a valuation of $2.65 billion – to list its mobile money unit in four years</a> <a href="https://www.businessinsider.in/policy/news/indias-supreme-court-looks-into-allegations-of-nearly-four-crore-ration-cards-being-cancelled-because-they-were-not-aadhaar-linked/articleshow/81570339.cms">A Dalit mother lost her ration card and then her child to starvation — her fight for justice has now become a national cause at the SC</a> <a href="https://www.businessinsider.in/business/corporates/news/delhi-high-court-brings-up-civil-prison-for-violation-directs-future-group-to-recall-approvals-granted-to-future-retail-reliance-deal/articleshow/81570521.cms">Kishore Biyani vs Amazon – Delhi High Court brings up ‘civil prison’ for violation by Future Group, asks for recall of approvals granted to Future Retail-Reliance deal</a>

Facebook will now let you use physical security keys to login from your mobile phone

Dubai, India will open their campaign in the rescheduled Women's ODI World Cup against a qualifier on March 6, 2022 at Tauranga's Bay Oval in New Zealand, according to the 31-match schedule announced by the ICC on Tuesday. India have two more matches against qualifiers on March 12 and March 22 at Seddon park, Hamilton in the eight-team round-robin format event. Among the marquee games, Tauranga will host the rematch of the 2017 Women's World Cup final at Lord's with India taking on England on March 16. India will then face Australia at Eden Park, Auckland on March 19, before locking horns with South Africa on March 27 at Hagley Oval, Christchurch. The event, which was postponed due to the COVID-19 pandemic from its original window in February-March 2021 with the same six host cities and venues retained, will be held between March 4 and April 3, 2022. The first global women's <keyword id="1521" type="COMPANY" weightage="20" keywordseo="Cricket">cricket</keyword> event to be played since the T20 World Cup in Australia in March, it will feature eight of the world's best nations going head-to-head across Auckland, Tauranga, Hamilton, Wellington, Christchurch, and Dunedin. "We have all been through a very difficult year and are happy to be getting back at playing the game we all love," India captain Mithali Raj said in an ICC release. "India has been doing very well at ICC tournaments in the past three or four years, whether you talk about the (ODI) World Cup or the recently concluded T20 World Cup. "... if we manage to win the tournament in 2022, it will be a massive inspiration for the next generation of girls, as the fifty-over format, is considered the pinnacle for any cricketer. I can assure you the team and I are looking forward to it." According to the schedule, the Basin Reserve in Wellington and the Hagley Oval in Christchurch will host the semi-finals with the latter also set to to host the final under lights on April 3, 2022. The tournament-opener will be held in Tauranga featuring the White Ferns and a qualifier on March 4. Besides India, New Zealand, Australia, England and South Africa have qualified for the World Cup. The three remaining teams will emerge from the ICC qualifying tournament which will be held from June 26 to July 10 in Sri Lanka next year. It will be the first of two major cricket tournaments across the globe in 2022 - the other being the Commonwealth Games in England. "This schedule takes the world's best cricketers across New Zealand and can help inspire a generation of girls and boys to take up the game," ICC CEO, Manu Sawhney said. The prize money for the showpiece will total NZD 5.5 million, an increase of almost 60 percent on 2017 and more than 1000 percent compared to 2013. All matches will be broadcast live to a huge global audience. "The last five years have seen significant progress in women's Cricket and recent success of the Women's T20 challenge is an indicator of the same," Sanjog Gupta, Head of Star India which will broadcast the event, said. "The broadcast of the ICC Women's World Cup has grown leaps and bounds. The 2017 ICC Women's World Cup Final, one of the highest-rated sporting events of that year with a cumulative reach of 95 million, is testament to the growing fandoms for women's cricket in India," he added. ICC Women's World Cup 2022 fixtures by venue: (*denotes day/night) Bay Oval, Tauranga Fri Mar 04 New Zealand v Qualifier* Sun Mar 06 Qualifier v India* Tue Mar 08 Australia v Qualifier * Fri Mar 11 Qualifier v South Africa* Mon Mar 14 South Africa v England* Wed Mar 16 England v India* Fri Mar 18 Qualifier v Qualifier University Oval, Dunedin Sat Mar 05 Qualifier v South Africa Mon Mar 07 New Zealand v Qualifier Wed Mar 09 Qualifier v England Seddon Park, Hamilton Sat Mar 05 Australia v England* Thu Mar 10 New Zealand v India* Sat Mar 12 Qualifier v India* Mon Mar 14 Qualifier v Qualifier Thu Mar 17 New Zealand v South Africa* Mon Mar 21 Qualifier v Qualifier* Tue Mar 22 India v Qualifier* Basin Reserve, Wellington Sun Mar 13 New Zealand v Australia Tue Mar 15 Australia v Qualifier Tue Mar 22 South Africa v Australia Thu Mar 24 South Africa v Qualifier Fri Mar 25 Qualifier v Australia Sun Mar 27 England v Qualifier Wed Mar 30 Semi-Final 1 Eden Park, Auckland Sat Mar 19 India v Australia* Sun Mar 20 New Zealand v England Hagley Oval, Christchurch Thu Mar 24 England v Qualifier* Sat Mar 26 New Zealand v Qualifier Sun Mar 27 India v South Africa* Thu Mar 31 Semi-Final 2* Sun Apr 03 FINAL*. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-airtel-vodafone-idea-tcs-tata-steel-cams-nmdc-and-others/articleshow/79732131.cms">Top stocks to watch — RIL, Airtel, Vodafone-idea, TCS, Tata Steel, CAMS, NMDC and others</a> <a href="https://www.businessinsider.in/stock-market/news/burger-king-india-shares-nearly-doubles-on-listing-debut-pushes-valuation-past-4000-crore/articleshow/79715269.cms">Burger King India shares nearly doubles on listing — debut pushes valuation past ₹4,000 crore</a> <a href="https://www.businessinsider.in/business/startups/news/the-difference-between-doordash-zomato-and-swiggy-is-not-in-what-the-companies-do-its-where-they-do-it/articleshow/79715531.cms">The difference between DoorDash and Indian peers Zomato and Swiggy is not in what the companies do⁠ — it’s where they do it</a>

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Airtel Africa gets $200 million investment from Rise Fund at a valuation of $2.65 billion – to list its mobile money unit in four years

Sanchita Dash

Airtel’s Africa unit is now a nearly-billion dollar business where every user pays 40% more than the one in India

Rounak Jain

Amazon reportedly wants Airtel stake for $2 billion ⁠— and a partnership like Jio-Facebook and possibly, Google-Vodafone Idea

Rounak Jain

Music producer-composer Kanye West is the richest Black American with $6.6 billion net worth, says report

IANS

4th T20I: England wins toss, choose to bowl first against India

IANS

Vodafone Idea shares surge more than 30% after Google reportedly considers a stake in the debt-laden telco

Rounak Jain

Facebook will now let you use physical security keys to login from your mobile phone

IANS

ICC announces schedule for 2022 Women's World Cup, India to open against a qualifier

PTI

Top 10 Indian companies by market value in 2024

BI India Bureau

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