Bharti Bets $10.7 Billion on Mobile's Last Frontier: Africa

The world's No. 3 single-country mobile operator, India's Bharti, is already the biggest player in its home country. But further expansion there is problematic: India's mobile market is heavily competitive, and profit margins are slim. So for its next major growth opportunity, Bharti has been looking overseas to the emerging markets of Africa. The company spent two years trying to buy MTN, a major mobile provider in South Africa, but the deal fell through last fall when regulators blocked its $24 billion bid.