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Shares of Bharti Airtel have rallied nearly 4% to Rs 445, also their 52-week high on the NSE, after the company said it has entered into exclusive talks with France's Orange to sell its subsidiaries in Africa.
Orange and Bharti Airtel International (Netherlands), a subsidiary of Bharti Airtel, have entered into an exclusive agreement “to explore the possible acquisition by Orange of Airtel’s subsidiaries in Burkina Faso, Chad, Congo Brazzaville and Sierra Leone,” Bharti Airtel said in a statement.
However, there is no certainty of any binding agreement as a result of these discussions, Bhart Airtel added.
At 09:39 AM, the stock was up 3.3% at Rs 444 on the NSE and has seen a combined 1.09 million shares changing hands on the counter on the NSE and BSE.
Orange and Bharti Airtel International (Netherlands), a subsidiary of Bharti Airtel, have entered into an exclusive agreement “to explore the possible acquisition by Orange of Airtel’s subsidiaries in Burkina Faso, Chad, Congo Brazzaville and Sierra Leone,” Bharti Airtel said in a statement.
However, there is no certainty of any binding agreement as a result of these discussions, Bhart Airtel added.
At 09:39 AM, the stock was up 3.3% at Rs 444 on the NSE and has seen a combined 1.09 million shares changing hands on the counter on the NSE and BSE.
