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CORRECTED-MARKET EYE-India's Bharti Airtel gains ahead of 2G decision
July 16, 2012 / 9:23 AM / 5 years ago

CORRECTED-MARKET EYE-India's Bharti Airtel gains ahead of 2G decision

(Corrects 1st and 2nd bullet points to show panel of ministers,
not federal ministry, to meet on 2G pricing)
* Shares in telecom operator Bharti Airtel gains 3.8
percent on expectations for a favourable decision as a panel of
ministers is scheduled to meet on Wednesday to decide on which
prices to charge for 2G radio airwaves at an upcoming auction.
* The ministerial panel has the final say on most auction rules,
but the base price needs to be approved by the federal cabinet.
* Traders also attribute Bharti share gains to its recent
underperformance.
* The stock has risen 1 percent this month compared to its peers
Idea Cellular and Reliance Communications,
which have gained 9.5 and 7.6 percent, respectively, ahead of
the 2G outcome.

 (manoj.dharra@thomsonreuters.com)

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