SlideShare a Scribd company logo
Bharti scrip out of rut, closes 4 percent up
 Bharti Airtel shares, which opened on a firm note Thursday, ended 4 percent higher than its
previous close, a day after the firm had to terminate the proposed $24-billion equity-swap-cum
strategic tie-up with South Africa's telecom major MTN.

The deal, if it had materialised, would have created the world's third largest mobile phone firm, but
had led to analysts worrying that the consequent debt burden would have made its stock
unattractive.

Upon collapse of the talks, the company's shares opened at Rs.435 Thursday on the Bombay Stock
Exchange (BSE) as against the previous day's close at Rs.418.55.

It shut shop at Rs.435.35, a gain of Rs.16.80 or 4.01 percent over the previous day's close.

The scrip had shot up to an intra-day high of Rs.467, moving up Rs.27.30 or 6.52 percent. It had hit
a 52-week high of Rs.990 May 19 and an annual low of Rs.360.10 Aug 11.

The company has been a laggard on the stock exchanges over the past month, falling 3.74 percent
on the BSE even as the benchmark index of the bourse, the Sensex, rose 7.56 percent during the
same period. Analysts had been viewing the stock negatively owing to Bharti's persistent
sweetening of its offer for MTN.

In the last quarter, the scrip fell 4.36 percent, while the Sensex rose 18.17 percent.

However, with the deal off, the scrip is back in favour with traders and is expected to take off.

'In a way this is good news for the Bharti scrip; had this deal happened it would have burdened the
company's balance sheet which is currently low on leverage,' said SMC Capitals equity head
Jagannadham Thunuguntla.

'Analysts have been wary of the deal because of past acquistions like the Tata Corus deal, which
turned Tata's balance sheet into a heavily leveraged one,' added Thunuguntla.

Late Wednesday, Bharti Airtel and South Africa's MTN said they were terminating their talks for the
proposed deal that could have created a large mobile phone entity, just behind China Mobile and
Vodafone Group, with a subscription base of 207 million.

According to Bharti, the proposed deal - which even had the backing of Prime Minister Manmohan
Singh - was called off after the South African authorities declined to accept certain regulatory
constraints on the part of both sides.

'This structure needed an approval from the government of South Africa that has expressed its
inability to accept it in the current form,' said a statement by Bharti Airtel.

'In view of this, both companies have taken the decision to disengage from discussion,' said the
statement issued after the closing of stock markets in both India and South Africa.

Page 1/2
© Copyright 2009 IndiaeNews.com. All Rights Reserved.
'The alliance planned between Bharti and MTN was a vision based on solid fundamentals, which
had the potential of creating an emerging markets telecom giant and the third largest telecom
company in the world.'

( © IANS / India eNews)




Page 2/2
© Copyright 2009 IndiaeNews.com. All Rights Reserved.

More Related Content

Viewers also liked

Conjunto N
Conjunto NConjunto N
Conjunto N
guestc11487
 
Branding Ecuestre
Branding EcuestreBranding Ecuestre
Branding Ecuestre
Bucephalos Costa Rica S.A
 
Iniciativa Empresarial 2
Iniciativa Empresarial 2Iniciativa Empresarial 2
Iniciativa Empresarial 2
28052009
 
Conjunto N
Conjunto NConjunto N
Conjunto N
guestc11487
 
Asas
AsasAsas
Social media
Social mediaSocial media
Social media
Nikki de Kok
 

Viewers also liked (6)

Conjunto N
Conjunto NConjunto N
Conjunto N
 
Branding Ecuestre
Branding EcuestreBranding Ecuestre
Branding Ecuestre
 
Iniciativa Empresarial 2
Iniciativa Empresarial 2Iniciativa Empresarial 2
Iniciativa Empresarial 2
 
Conjunto N
Conjunto NConjunto N
Conjunto N
 
Asas
AsasAsas
Asas
 
Social media
Social mediaSocial media
Social media
 

Similar to India E News October 1, 2009 Bharti Scrip Out Of Rut, Closes 4 Percent Up

International Business News May 26, 2009 Bharti Airtel, MTN Resume Merger Tal...
International Business News May 26, 2009 Bharti Airtel, MTN Resume Merger Tal...International Business News May 26, 2009 Bharti Airtel, MTN Resume Merger Tal...
International Business News May 26, 2009 Bharti Airtel, MTN Resume Merger Tal...
Jagannadham Thunuguntla
 
Bloomberg 21 March 2010 Bharti Arranges Zain Financing
Bloomberg 21 March 2010 Bharti Arranges Zain FinancingBloomberg 21 March 2010 Bharti Arranges Zain Financing
Bloomberg 21 March 2010 Bharti Arranges Zain Financing
Jagannadham Thunuguntla
 
Airtel n zain
Airtel n zainAirtel n zain
Airtel n zain
Pooja Lilani
 
Bharthi Airtel
Bharthi AirtelBharthi Airtel
Bharthi Airtel
rajashekar
 
The Deal
The DealThe Deal
The Deal
adhaval
 
Bc Presentation
Bc PresentationBc Presentation
Bc Presentation
adhaval
 
Bloomberg Feb 17, 2010
Bloomberg Feb 17, 2010Bloomberg Feb 17, 2010
Bloomberg Feb 17, 2010
Jagannadham Thunuguntla
 
Businessworld 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
Businessworld 20 May 2010 Telcos up as costly 3G auction ends;hurdles aheadBusinessworld 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
Businessworld 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
Jagannadham Thunuguntla
 
London South East 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
London South East 20 May 2010 Telcos up as costly 3G auction ends;hurdles aheadLondon South East 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
London South East 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
Jagannadham Thunuguntla
 
Insing 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
Insing 20 May 2010 Telcos up as costly 3G auction ends;hurdles aheadInsing 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
Insing 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
Jagannadham Thunuguntla
 
Reuters 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
Reuters 20 May 2010 Telcos up as costly 3G auction ends;hurdles aheadReuters 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
Reuters 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
Jagannadham Thunuguntla
 
The Gurdian 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
The Gurdian 20 May 2010 Telcos up as costly 3G auction ends;hurdles aheadThe Gurdian 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
The Gurdian 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
Jagannadham Thunuguntla
 
Airtel’s acquisition of zain in africa
Airtel’s acquisition of zain in africaAirtel’s acquisition of zain in africa
Airtel’s acquisition of zain in africa
Sajad Ahmad Dar
 
conflict management - MTN Bharti Airtel
conflict management - MTN Bharti Airtelconflict management - MTN Bharti Airtel
conflict management - MTN Bharti Airtel
Abhishek Agarwal
 

Similar to India E News October 1, 2009 Bharti Scrip Out Of Rut, Closes 4 Percent Up (14)

International Business News May 26, 2009 Bharti Airtel, MTN Resume Merger Tal...
International Business News May 26, 2009 Bharti Airtel, MTN Resume Merger Tal...International Business News May 26, 2009 Bharti Airtel, MTN Resume Merger Tal...
International Business News May 26, 2009 Bharti Airtel, MTN Resume Merger Tal...
 
Bloomberg 21 March 2010 Bharti Arranges Zain Financing
Bloomberg 21 March 2010 Bharti Arranges Zain FinancingBloomberg 21 March 2010 Bharti Arranges Zain Financing
Bloomberg 21 March 2010 Bharti Arranges Zain Financing
 
Airtel n zain
Airtel n zainAirtel n zain
Airtel n zain
 
Bharthi Airtel
Bharthi AirtelBharthi Airtel
Bharthi Airtel
 
The Deal
The DealThe Deal
The Deal
 
Bc Presentation
Bc PresentationBc Presentation
Bc Presentation
 
Bloomberg Feb 17, 2010
Bloomberg Feb 17, 2010Bloomberg Feb 17, 2010
Bloomberg Feb 17, 2010
 
Businessworld 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
Businessworld 20 May 2010 Telcos up as costly 3G auction ends;hurdles aheadBusinessworld 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
Businessworld 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
 
London South East 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
London South East 20 May 2010 Telcos up as costly 3G auction ends;hurdles aheadLondon South East 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
London South East 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
 
Insing 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
Insing 20 May 2010 Telcos up as costly 3G auction ends;hurdles aheadInsing 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
Insing 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
 
Reuters 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
Reuters 20 May 2010 Telcos up as costly 3G auction ends;hurdles aheadReuters 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
Reuters 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
 
The Gurdian 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
The Gurdian 20 May 2010 Telcos up as costly 3G auction ends;hurdles aheadThe Gurdian 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
The Gurdian 20 May 2010 Telcos up as costly 3G auction ends;hurdles ahead
 
Airtel’s acquisition of zain in africa
Airtel’s acquisition of zain in africaAirtel’s acquisition of zain in africa
Airtel’s acquisition of zain in africa
 
conflict management - MTN Bharti Airtel
conflict management - MTN Bharti Airtelconflict management - MTN Bharti Airtel
conflict management - MTN Bharti Airtel
 

More from Jagannadham Thunuguntla

Infra cos pay over $1 billion in finance, interest costs in H1 - 25.11.2013
Infra cos pay over $1 billion in finance, interest costs in H1 - 25.11.2013Infra cos pay over $1 billion in finance, interest costs in H1 - 25.11.2013
Infra cos pay over $1 billion in finance, interest costs in H1 - 25.11.2013Jagannadham Thunuguntla
 
Initial offers fail investors- 25.11.2013
Initial offers fail investors- 25.11.2013Initial offers fail investors- 25.11.2013
Initial offers fail investors- 25.11.2013Jagannadham Thunuguntla
 

More from Jagannadham Thunuguntla (20)

Financial chronicle 10.05.2014
Financial chronicle 10.05.2014Financial chronicle 10.05.2014
Financial chronicle 10.05.2014
 
The indian express
The indian expressThe indian express
The indian express
 
The financial express
The financial expressThe financial express
The financial express
 
The hindu business line
The hindu business lineThe hindu business line
The hindu business line
 
The asian age
The asian ageThe asian age
The asian age
 
Economic times 28.03.14.
Economic times   28.03.14.Economic times   28.03.14.
Economic times 28.03.14.
 
Economic times 26.03.14.
Economic times   26.03.14.Economic times   26.03.14.
Economic times 26.03.14.
 
Economic times 25.03.14.
Economic times   25.03.14.Economic times   25.03.14.
Economic times 25.03.14.
 
Financial chronicle 03.02.2014
Financial chronicle   03.02.2014Financial chronicle   03.02.2014
Financial chronicle 03.02.2014
 
Business standards 03.02.2014
Business standards   03.02.2014Business standards   03.02.2014
Business standards 03.02.2014
 
Financial chronicle - 31.01.201
Financial chronicle - 31.01.201Financial chronicle - 31.01.201
Financial chronicle - 31.01.201
 
The financial express 07.01.14.
The financial express   07.01.14.The financial express   07.01.14.
The financial express 07.01.14.
 
The business standard 07.01.14.
The business standard   07.01.14.The business standard   07.01.14.
The business standard 07.01.14.
 
Financial chronicle 7.01.14.
Financial chronicle   7.01.14.Financial chronicle   7.01.14.
Financial chronicle 7.01.14.
 
Business Standard 24.12.13
Business Standard 24.12.13Business Standard 24.12.13
Business Standard 24.12.13
 
The Hindu business
The Hindu businessThe Hindu business
The Hindu business
 
Hindu 17.12.13
Hindu 17.12.13Hindu 17.12.13
Hindu 17.12.13
 
Hindu 17.12.2013
Hindu 17.12.2013Hindu 17.12.2013
Hindu 17.12.2013
 
Infra cos pay over $1 billion in finance, interest costs in H1 - 25.11.2013
Infra cos pay over $1 billion in finance, interest costs in H1 - 25.11.2013Infra cos pay over $1 billion in finance, interest costs in H1 - 25.11.2013
Infra cos pay over $1 billion in finance, interest costs in H1 - 25.11.2013
 
Initial offers fail investors- 25.11.2013
Initial offers fail investors- 25.11.2013Initial offers fail investors- 25.11.2013
Initial offers fail investors- 25.11.2013
 

Recently uploaded

Economic Risk Factor Update: June 2024 [SlideShare]
Economic Risk Factor Update: June 2024 [SlideShare]Economic Risk Factor Update: June 2024 [SlideShare]
Economic Risk Factor Update: June 2024 [SlideShare]
Commonwealth
 
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
AntoniaOwensDetwiler
 
Tumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdf
Tumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdfTumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdf
Tumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdf
Henry Tapper
 
2. Elemental Economics - Mineral demand.pdf
2. Elemental Economics - Mineral demand.pdf2. Elemental Economics - Mineral demand.pdf
2. Elemental Economics - Mineral demand.pdf
Neal Brewster
 
在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样
在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样
在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样
5spllj1l
 
1. Elemental Economics - Introduction to mining.pdf
1. Elemental Economics - Introduction to mining.pdf1. Elemental Economics - Introduction to mining.pdf
1. Elemental Economics - Introduction to mining.pdf
Neal Brewster
 
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
nimaruinazawa258
 
Earn a passive income with prosocial investing
Earn a passive income with prosocial investingEarn a passive income with prosocial investing
Earn a passive income with prosocial investing
Colin R. Turner
 
International Sustainability Standards Board
International Sustainability Standards BoardInternational Sustainability Standards Board
International Sustainability Standards Board
Kumar Ramaiah
 
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
How Non-Banking Financial Companies Empower Startups With Venture Debt FinancingHow Non-Banking Financial Companies Empower Startups With Venture Debt Financing
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
Vighnesh Shashtri
 
The Impact of GST Payments on Loan Approvals
The Impact of GST Payments on Loan ApprovalsThe Impact of GST Payments on Loan Approvals
The Impact of GST Payments on Loan Approvals
Vighnesh Shashtri
 
在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样
在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样
在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样
5spllj1l
 
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
taqyea
 
The state of welfare Resolution Foundation Event
The state of welfare Resolution Foundation EventThe state of welfare Resolution Foundation Event
The state of welfare Resolution Foundation Event
ResolutionFoundation
 
Does teamwork really matter? Looking beyond the job posting to understand lab...
Does teamwork really matter? Looking beyond the job posting to understand lab...Does teamwork really matter? Looking beyond the job posting to understand lab...
Does teamwork really matter? Looking beyond the job posting to understand lab...
Labour Market Information Council | Conseil de l’information sur le marché du travail
 
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...
sameer shah
 
Applying the Global Internal Audit Standards_AIS.pdf
Applying the Global Internal Audit Standards_AIS.pdfApplying the Global Internal Audit Standards_AIS.pdf
Applying the Global Internal Audit Standards_AIS.pdf
alexiusbrian1
 
FCCS Basic Accounts Outline and Hierarchy.pptx
FCCS Basic Accounts Outline and Hierarchy.pptxFCCS Basic Accounts Outline and Hierarchy.pptx
FCCS Basic Accounts Outline and Hierarchy.pptx
nalamynandan
 
University of North Carolina at Charlotte degree offer diploma Transcript
University of North Carolina at Charlotte degree offer diploma TranscriptUniversity of North Carolina at Charlotte degree offer diploma Transcript
University of North Carolina at Charlotte degree offer diploma Transcript
tscdzuip
 
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
mayaclinic18
 

Recently uploaded (20)

Economic Risk Factor Update: June 2024 [SlideShare]
Economic Risk Factor Update: June 2024 [SlideShare]Economic Risk Factor Update: June 2024 [SlideShare]
Economic Risk Factor Update: June 2024 [SlideShare]
 
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
 
Tumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdf
Tumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdfTumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdf
Tumelo-deep-dive-into-pass-through-voting-Feb23 (1).pdf
 
2. Elemental Economics - Mineral demand.pdf
2. Elemental Economics - Mineral demand.pdf2. Elemental Economics - Mineral demand.pdf
2. Elemental Economics - Mineral demand.pdf
 
在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样
在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样
在线办理(TAMU毕业证书)美国德州农工大学毕业证PDF成绩单一模一样
 
1. Elemental Economics - Introduction to mining.pdf
1. Elemental Economics - Introduction to mining.pdf1. Elemental Economics - Introduction to mining.pdf
1. Elemental Economics - Introduction to mining.pdf
 
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
 
Earn a passive income with prosocial investing
Earn a passive income with prosocial investingEarn a passive income with prosocial investing
Earn a passive income with prosocial investing
 
International Sustainability Standards Board
International Sustainability Standards BoardInternational Sustainability Standards Board
International Sustainability Standards Board
 
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
How Non-Banking Financial Companies Empower Startups With Venture Debt FinancingHow Non-Banking Financial Companies Empower Startups With Venture Debt Financing
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
 
The Impact of GST Payments on Loan Approvals
The Impact of GST Payments on Loan ApprovalsThe Impact of GST Payments on Loan Approvals
The Impact of GST Payments on Loan Approvals
 
在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样
在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样
在线办理(GU毕业证书)美国贡萨加大学毕业证学历证书一模一样
 
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
一比一原版美国新罕布什尔大学(unh)毕业证学历认证真实可查
 
The state of welfare Resolution Foundation Event
The state of welfare Resolution Foundation EventThe state of welfare Resolution Foundation Event
The state of welfare Resolution Foundation Event
 
Does teamwork really matter? Looking beyond the job posting to understand lab...
Does teamwork really matter? Looking beyond the job posting to understand lab...Does teamwork really matter? Looking beyond the job posting to understand lab...
Does teamwork really matter? Looking beyond the job posting to understand lab...
 
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...
 
Applying the Global Internal Audit Standards_AIS.pdf
Applying the Global Internal Audit Standards_AIS.pdfApplying the Global Internal Audit Standards_AIS.pdf
Applying the Global Internal Audit Standards_AIS.pdf
 
FCCS Basic Accounts Outline and Hierarchy.pptx
FCCS Basic Accounts Outline and Hierarchy.pptxFCCS Basic Accounts Outline and Hierarchy.pptx
FCCS Basic Accounts Outline and Hierarchy.pptx
 
University of North Carolina at Charlotte degree offer diploma Transcript
University of North Carolina at Charlotte degree offer diploma TranscriptUniversity of North Carolina at Charlotte degree offer diploma Transcript
University of North Carolina at Charlotte degree offer diploma Transcript
 
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
 

India E News October 1, 2009 Bharti Scrip Out Of Rut, Closes 4 Percent Up

  • 1. Bharti scrip out of rut, closes 4 percent up Bharti Airtel shares, which opened on a firm note Thursday, ended 4 percent higher than its previous close, a day after the firm had to terminate the proposed $24-billion equity-swap-cum strategic tie-up with South Africa's telecom major MTN. The deal, if it had materialised, would have created the world's third largest mobile phone firm, but had led to analysts worrying that the consequent debt burden would have made its stock unattractive. Upon collapse of the talks, the company's shares opened at Rs.435 Thursday on the Bombay Stock Exchange (BSE) as against the previous day's close at Rs.418.55. It shut shop at Rs.435.35, a gain of Rs.16.80 or 4.01 percent over the previous day's close. The scrip had shot up to an intra-day high of Rs.467, moving up Rs.27.30 or 6.52 percent. It had hit a 52-week high of Rs.990 May 19 and an annual low of Rs.360.10 Aug 11. The company has been a laggard on the stock exchanges over the past month, falling 3.74 percent on the BSE even as the benchmark index of the bourse, the Sensex, rose 7.56 percent during the same period. Analysts had been viewing the stock negatively owing to Bharti's persistent sweetening of its offer for MTN. In the last quarter, the scrip fell 4.36 percent, while the Sensex rose 18.17 percent. However, with the deal off, the scrip is back in favour with traders and is expected to take off. 'In a way this is good news for the Bharti scrip; had this deal happened it would have burdened the company's balance sheet which is currently low on leverage,' said SMC Capitals equity head Jagannadham Thunuguntla. 'Analysts have been wary of the deal because of past acquistions like the Tata Corus deal, which turned Tata's balance sheet into a heavily leveraged one,' added Thunuguntla. Late Wednesday, Bharti Airtel and South Africa's MTN said they were terminating their talks for the proposed deal that could have created a large mobile phone entity, just behind China Mobile and Vodafone Group, with a subscription base of 207 million. According to Bharti, the proposed deal - which even had the backing of Prime Minister Manmohan Singh - was called off after the South African authorities declined to accept certain regulatory constraints on the part of both sides. 'This structure needed an approval from the government of South Africa that has expressed its inability to accept it in the current form,' said a statement by Bharti Airtel. 'In view of this, both companies have taken the decision to disengage from discussion,' said the statement issued after the closing of stock markets in both India and South Africa. Page 1/2 © Copyright 2009 IndiaeNews.com. All Rights Reserved.
  • 2. 'The alliance planned between Bharti and MTN was a vision based on solid fundamentals, which had the potential of creating an emerging markets telecom giant and the third largest telecom company in the world.' ( © IANS / India eNews) Page 2/2 © Copyright 2009 IndiaeNews.com. All Rights Reserved.