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India's Bharti Airtel jumps on Tata mobile unit deal
October 13, 2017 / 3:59 AM / 2 months ago

India's Bharti Airtel jumps on Tata mobile unit deal

MUMBAI, Oct 13 (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. (Reporting by Sankalp Phartiyal; Editing by Rafael Nam)

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