Bharti Airtel closes up 4.01 pc on BSE
Bharti Airtel on Thursday closed up 4.01 per cent on the Bombay Stock Exchange a day after its proposed USD 23-billion deal with South African telecom giant MTN fell through.
By PTI |
MUMBAI: Bharti Airtel on Thursday closed up 4.01 per cent on the Bombay Stock Exchange a day after its proposed USD 23-billion deal with South African telecom giant MTN fell through.
Shares of Bharti Airtel settled at Rs 435.35, up 4.01 per cent on the BSE. During the trade the stock surged 11.57 per cent to touch an intra-day high of Rs 467.
Similarly, on the National Stock Exchange the scrip closed at Rs 435, up 3.88 per cent. During the trading hours the stock climbed 9.61 per cent to a high of Rs 459.
A total of 4.07 crore shares of Bharti Airtel changed hands on both the bourses.
Meanwhile, Finance Minister Pranab Mukherjee today described the failure of the merger talks as "part of the game", while Planning Commission Deputy Chairman Montek Singh Ahluwalia has said he is not disappointed with the failure of Bharti-MTN merger deal.
Yesterday, Sunil Mittal-led Bharti called off discussions with MTN citing South African government's rejection of the proposed merger structure in its present form.
If the deal had gone through, it would have created the world's third largest telecom company with combined revenues of over USD 20 billion annually and a subscriber base of over 200 million.
Shares of Bharti Airtel settled at Rs 435.35, up 4.01 per cent on the BSE. During the trade the stock surged 11.57 per cent to touch an intra-day high of Rs 467.
Similarly, on the National Stock Exchange the scrip closed at Rs 435, up 3.88 per cent. During the trading hours the stock climbed 9.61 per cent to a high of Rs 459.
A total of 4.07 crore shares of Bharti Airtel changed hands on both the bourses.
Meanwhile, Finance Minister Pranab Mukherjee today described the failure of the merger talks as "part of the game", while Planning Commission Deputy Chairman Montek Singh Ahluwalia has said he is not disappointed with the failure of Bharti-MTN merger deal.
Yesterday, Sunil Mittal-led Bharti called off discussions with MTN citing South African government's rejection of the proposed merger structure in its present form.
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If the deal had gone through, it would have created the world's third largest telecom company with combined revenues of over USD 20 billion annually and a subscriber base of over 200 million.
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