A maturing market amid the mayhem
Bharti Airtel rises after Zain deal
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?