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Airtel Plans to Cut Debt, Indian Economy To Grow et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
May 9, 2018 12:31 PM 1 min read
Editorial

End of Day Wrap-up (Wednesday / May 09, 2018) #Slack #Airtel #India #China #Economy #HDFC #Facebook #Instagram #Messenger #WhatsApp #Blockchain #Vodafone #Transfin

Editor's comment: Airtel plans to cut its debt by $4.6bn over the next 3 years by listing its African unit and potentially selling stake in the tower business. Deleveraging key with the telecom player under 'negative outlook' of S&P which rated its credit as BBB-. Moody's rating at Baa3  with negative outlook.   

 

Indian Economy expected to grow by 7.4% in current fiscal, as per IMF. India with China comprise 45% of global growth. 'Growth friendly' fiscal consolidation recommended as key.

 

HDFC creates INR1,000cr stressed realty fund, seeking a possible partner with expertise in turning around distressed assets.

 

Facebook Chief Product Officer to head Instagram, Messenger, WhatsApp. Launches exploratory Blockchain division to potentially assess opportunities in the Facebook ecosystem, including encrypted data storage.

 

Vodafone announces $22 billion deal to buy one-third of Liberty Global Plc creating the 2nd biggest cable network in Germany, threatening Deutsche Telekom in its home market.  

 

Popular workplace messaging app Slack passes 3m paid users and 8m daily active users. Slack last valued at $5.1bn when it raised $250m from SoftBank's Vision Fund last September.