Bharti BT Internet says it is currently evaluating a
Nasdaq listing.
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The company, a 51-49 joint venture ISP by Bharti Enterprises and British
Telecom plc, has targeted 70,000 customers by March 2000 for its Internet
service ManthraOnline.
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Telecomunicacoes de 9498 675 620 BHARTI BT INTERNET LTD. 9829 598 586 BSNL Limited 21527 17 15 Covenant Eyes, LLC 23888 17 15 National Telecommunication
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Bharti BT has not yet taken a firm decision for Nasdaq listing, but CEO N
Arjun only said that it is "obviously a very good time to float an Internet
stock. The success of Satyam Infoway is encouraging."
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Arjun said the firm was interested in an IPO in the United States and a
listing on the Nasdaq, but a decision on such a move would have to be
made by the shareholders of the JV partners.
"It makes more sense for an
Internet firm to be listed on the Nasdaq than in India. For us, it would
take at least 12 months to [list in India]."
thyme.apnic.net/current/data-CIDRnet::
9498 675 621 BHARTI BT INTERNET LTD. 2386 1505 605 AT&T Data Communications Serv and New Zealand Ban 21527 16 14 Covenant Eyes, LLC 25467 16 14 Akton Autonomous
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The company launched ManthraOnline in May this year and currently reports
a user base of 46,000 customers (paid users: 35,000) in eight locations.
"We should have 70,000 customers by March 2000, which is about 12 per
cent of the total market," Arjun said. "We have been adding about 6,000
new customers every month."
Apart from Delhi, Mumbai and Bangalore, Bharti BT is present via a
franchise agreement in five cities in Madhay Pradesh, where sister
concern Bharti Telenet operates a fixed-line network. Plans are underway
to launch services in Calcutta, Chennai, Hyderabad and Pune.
Services will be expanded in 15 locations. The company is hoping to
consolidate operations by bringing Category C ISP licensees, who normally
operate in a local area, under the Bharti BT umbrella.
Arjun says that the company had applied for clearances to set up its own
Internet gateway and was expecting the green light by this month.
"If we
get all the clearances on time, we should be able to launch the gateway
in March," he added. "In two years' time, we want to be one of the top four ISPs in terms of
customer base, and one of the top five Internet portals in the country."
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Bharti BT Eyes Nasdaq 
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