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  Business   Market  13 Oct 2017  Bharti Airtel shares jump 7.5 per cent on Tata mobile unit deal

Bharti Airtel shares jump 7.5 per cent on Tata mobile unit deal

REUTERS
Published : Oct 13, 2017, 10:46 am IST
Updated : Oct 13, 2017, 10:46 am IST

Shares in Tata Teleservices (Maharashtra) Ltd, a unit of Tata Teleservices, rose 9.1 percent.

Bharti Airtel shares rose as much as 7.5 per cent, a day after the announcement of its deal with Tata Teleservices. (File Photo)
 Bharti Airtel shares rose as much as 7.5 per cent, a day after the announcement of its deal with Tata Teleservices. (File Photo)

Mumbai: 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.

Tags: bharti airtel, bharti airtel share prices, tata teleservices
Location: India, Maharashtra, Mumbai (Bombay)