Bharti Airtel Gains After Bagging SEBI Nod For Its Merger With Telenor

Bharti Airtel is the top gainer in the BSE Telecom index and was trading higher by around 3.4% at Rs 379.35 per share as of 1000 hours on Friday. The stock is witnessing northward movement after getting nod from SEBI and stock exchanges for its merger with Telenor.

After getting nod from the market regulator, Securities and Exchange Board of India (SEBI), Bharti Airtel and Telenor has filed a joint application before National Company Law Tribunal, reported the leading national business daily.

 Bharti Airtel is going to acquire Telenor India’s ongoing operations in seven circles, Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam.

The surging rivalry among the telecom companies and multiple consolidations are pushing the industry towards an uncertain future believe experts.

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About Suhani Varma