New Delhi: The country's largest telecom operator Bharti Airtel, currently in negotiations for a

buyout of Zain Telecom’s African assets, on Wednesday announced that it had elevated Sanjay
Kapoor as its chief executive officer for India and South Asia and Manoj Kohli as the head of the
international business division for the company, effective from March 1, a month earlier than
previously announced.

The announcement comes three weeks before the deadline for exclusive talks between Bharti
Airtel and Kuwaiti telecom operator, Zain telecom for the latter’s Africa assets valued at $10.7
billion. The two companies are currently negotiating for Zain's operations in 15 African markets
except for Morocco and Sudan until March 25.

In January, the Rs 37,000-crore telecom operator had said Kapoor, Bharti's then deputy chief
executive, would take over in April from Manoj Kohli, who would move to head its international
business unit. Kapoor takes over at a time when the growth is slowing down in the domestic
market owing stiff competition and the entry of new players. The firm registered a sluggish 1%
growth in its revenue in the third quarter ending December 2009 and 2% rise in its net profit
during the same period.

Manoj Kohli will continue on the board of Bharti Airtel. The international business group headed
by Kohli will comprise an in-house team drawn from areas such as business development,
networks & IT, project & performance excellence, brand & customer experience. According to a
statement issued by the company, Jai Menon, currently group CIO, Bharti Enterprises and
director–technology & customer service, Bharti Airtel, will move to the Bharti group corporate
office as group director-IT.

On a day the markets rose 2.25%, shares of the country’s largest telecom company Bharti
Airtel plunged 6.37% to close at Rs 550 after the company disclosed that CEO and joint
managing director Manoj Kohli sold his entire stake of 123,000 shares last week for over Rs
7 crore.
While this represents just 0.006% of Bharti’s equity, the fourth most-valued listed company
witnessed huge selling shaving off investors’ wealth by Rs 7,109 crore.
In a disclosure on the National Stock Exchange, the company said Kohli sold 70,000 shares
in the company on March 9. Estimated on the basis of the closing price of the company at Rs
587.75 on March 9, the value of the transaction is Rs 4.11 crore. Earlier on March 6, Kohli
sold 53,000 shares valued at Rs 3.13 crore.
A statement issued by the company after market hours announced a major restructuring at
the top fuelling speculation about “tension” in the top management. Sanjay Kapoor was
elevated from President, mobile services, to a newly created position of Deputy CEO.
Kapoor will lead the Mobile, Telemedia and DTH businesses and report to CEO Kohli who,
the company said, will focus on strategy development, governance and organisation
development.