India's Bharti Airtel jumps on Tata mobile unit deal

Tata Teleservices (Maharashtra)

13/10/2017 04:38

MUMBAI, Oct 13 (Reuters) - Shares in Bharti Airtel 
 BRTI.NS , 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.  urn:newsml:reuters.com:*:nL4N1MN3X3 
    Bharti shares were up 5.5 percent at 0345 GMT, outpacing a 
0.35 percent gain in the NSE index  .NSEI . Shares in Tata 
Teleservices (Maharashtra) Ltd  TTML.NS , a unit of Tata 
Teleservices, rose 9.1 percent. 
 
 (Reporting by Sankalp Phartiyal; Editing by Rafael Nam) 
 ((swati.bhat@thomsonreuters.com; twitter.com/swatibhat22; 
+91-22-61807353; Reuters Messaging: 
swati.bhat.thomsonreuters.com@reuters.net)) 
 
Keywords: TATA TELESERV M&A/BHARTI AIRTELSHARES