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Bharti Airtel rises after Zain deal

June 9, 2010

bse11

Shares in Bharti Airtel rose over 6 percent in trade after the telecoms major closed its $9 billion acquisition of Zain’s Africa operations.

Bharti Airtel, which is now the world’s fifth-biggest mobile carrier by subscriber base following the deal, ended 5.5 percent higher in a broader market that saw a marginal rise of 0.2 percent.

Ratings agency Standard & Poor’s on Wednesday lowered its long-term corporate credit rating on Bharti Airtel to ‘BB+’ from ‘BBB-’ and kept the outlook as stable.

For the year, the stock has given a negative return of over 17 percent. Do you think the Zain deal will rev-up the company’s revenues and boost investor confidence?

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