Bharti Airtel Jumps on Tata Mobile Unit Deal
The "debt-free (and) cash-free" deal with Tata Teleservices will boost Bharti Airtel's subscriber base by over 40 million, and increase its airwaves in India.
File photo of Airtel logo (Image: Reuters)
Shares in Bharti Airtel, India's top telecoms network operator, rose as much as 7.5 percent in early trade on Friday, a day after it announced the acquisition of the Tata conglomerate's consumer mobile business almost free of charge. The "debt-free (and) cash-free" deal with Tata Teleservices will boost Bharti Airtel's subscriber base by over 40 million, and increase its airwaves in India. Bharti shares were up 5.5 percent at 0345 GMT, outpacing a 0.35 percent gain in the NSE index. Shares in Tata Teleservices (Maharashtra) Ltd, a unit of Tata Teleservices, rose 9.1 percent.
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