January 15, 2018 / 9:12 AM / a month ago

BUZZ-Bharti Airtel, Idea fall as regulator cuts international call termination charges

** Shares of Bharti Airtel Ltd fall as much as 1 pct to 504.10 rupees, while Idea Cellular Ltd drops as much as 3.1 pct to 105.15 rupees

** Telecom Authority of India (TRAI) on Friday said international call termination charges (ITC) would be cut to 0.3 rupee a minute from 0.53 rupee effective Feb. 1

** The cut would mean a dent of 20 bln rupees in revenues on the Indian wireless industry with the incumbents bearing the maximum brunt, brokerage Kotak Institutional Equities says

** Indian operators get international termination charge for termination of international incoming calls on their networks

** Morgan Stanley estimates a 2-3 pct downside risk to Bharti Airtel’s FY19 India wireless EBITDA and a similar NAV impact

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