SingTel, which holds a 32.34 percent stake in Bharti Airtel, has urged Airtel to lead a consolidation drive in the Indian market and said it would support such a move, reports The Economic Times. Asked whether SingTel would help fund the consolidation by raising its investment in Airtel, SingTel Chairman Simon Israel said each operator will have to think of how it is going to fund itself. While the performance of the Airtel stock during the past few years has disappointed some investors, Israel said SingTel was satisfied with the company's performance. The SingTel chairman's remarks come a few days after Vodafone India CEO Martin Pieters said his company saw itself as a "natural consolidator" in India. Israel said the tendency in Asia was for three major mobile players per country, but given the size of the market, India may be able to support 5-6.
