 "Bharti Airtel extends gains for the third consecutive day")
Bharti Airtel has climbed 3% to Rs 404.65, extending its previous day’s nearly 4,2% gain on the BSE , after the company said it's arm signed an agreement to acquire over 2.7 million subscribers of yuMobile.
“Airtel Networks Kenya Limited (Airtel Kenya), a wholly owned subsidiary of Bharti Airtel International Netherlands BV has signed a definitive agreement with Essar Telecommunications Kenya Limited, which operates under the brand name yuMobile to acquire its over 2.7 million subscribers," Bharti Airtel said in a statement.
This transaction is subject to approval from Competition Authority of Kenya (CAK) and is likely to be concluded by fourth quarter of 2014. This will make Airtel Kenya a stronger No 2 player in the country. It currently has about 5 million subscribers in Kenya.
The stock opened at Rs 392, touched a high of Rs 406 and a low of Rs 391.50 on the BSE. A total of 159,831 shares changed hands on the BSE so far.