Bharti Airtel Ltd (BRTI.BO)
* Says Bharti Airtel and Millicom announce deal closure to combine operations in Ghana
MUMBAI India's Bharti Airtel Ltd saw its share price surge as much as 8 percent in early Friday trade as investors cheered its purchase of Tata Group's mobile arm, in a deal that secures 40 million new clients and spectrum at little cost.
(The following statement was released by the rating agency) SINGAPORE, October 13 (Fitch) Bharti Airtel Limited's (BBB-/Stable) announcement that it plans to acquire the consumer mobile operations of Tata Teleservices and Tata Teleservices (Maharashtra) Ltd (Tata Telecom business) is positive for the deal participants as well as the industry, Fitch Ratings says. Bharti's credit profile will improve slightly as it is paying no consideration for the operations, which it would acquire free of debt.
Oct 13 Indian shares, bonds, and the rupee gained on Friday after data showed inflation held steady, instead of accelerating as expected, raising tentative hopes the central bank would be less hawkish about interest rates.
* Says board approved scheme of amalgamation between Tikona Digital Networks and co Source text - http://bit.ly/2z2Q92s Further company coverage:
* Millicom and Bharti Airtel complete Ghana transaction Source text for Eikon: Further company coverage:
* High debt, eroding profit forcing India telco consolidation (Adds analyst comment, context on telecom market)
* Co, Tata entered into deal to merge consumer mobile businesses of Tata Teleservices and Tata Teleservices Maharashtra Limited into Bharti Airtel
MUMBAI, Oct 12 India's top telecommunications carrier Bharti Airtel will acquire the consumer mobile business of Tata Teleservices and Tata Teleservices (Maharashtra) Ltd, the companies said on Thursday.
Oct 11 Bharti Airtel Ltd, India's top telecom operator, said on Wednesday it had partnered with handset maker Karbonn Mobiles to introduce a 4G-enabled smartphone at the price of a feature phone.