The company’s $100-million investment in Cedar Support Services Ltd, a subsidiary of Bharti Ventures, is also being probed by the Enforcement Directorate for violation of norms.

Airtel moves

Asserting that there is nobody in India who can buy Airtel, Sunil Mittal said the telecom firm would look at opportunities to acquire another firm in India, provided there was a clear merger and acquisition policy in place.

“I don’t think that there is anybody in India who can buy us,” Mittal said when asked about the new M&A norms in the works and whether his company would be the biggest buyer or the biggest seller.

“We will be looking at opportunities (for consolidation) but for that a clear M&A policy, which has the objective of being an enabler for consolidation, is required,” he added.

Airtel is India’s largest telecom firm with 192.22 million subscribers as of August-end.

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