A maturing market amid the mayhem
Bharti gains after deal collapse
Shares in Bharti Airtel ended 4 percent higher in a broader market which ended flat.
Bharti Airtel, which carries over 4 percent weightage in the 30-share sensitive index, closed at 435 rupees with volumes of 6.8 million.
Talks of a $24 billion tie-up between S. Africa’s MTN and Bharti Airtel were called off for the second time last night on political and regulatory concerns.
Investor in Bharti Airtel, which owns nearly a quarter of India’s total mobile subscriber base, were concerned about Bharti sweetening the deal, but are now open to the idea of the company looking elsewhere.
S&P has issued a statement that yesterday’s development will not affect Bharti’s rating, which stands at BBB-/stable/- -
Do you think the breakdown in talks with MTN is blessing in disguise for Bharti?