Mumbai, August 18: Shares of Bharti Airtel today advanced nearly 3 per cent on the Bombay Stock Exchange amid reports that South African telecom major MTN”s board meeting could discuss its proposed merger deal with the Indian company. Shares of Bharti surged 4.11 per cent to an intra-day high of Rs 415.55.
It later settled at Rs 410.60, up 2.87 per cent over previous close on the BSE. Going by media reports, MTN board would be discussing the planned USD 23 billion-deal with Bharti. Both companies are in exclusive talks for the proposed transaction which would create a telecom entity with about 200 million subscribers.
On the National Stock Exchange the scrip witnessed a high of over four per cent, but later pared some gains and closed at Rs 411.05 , up 3.08 per cent over last closing. On the volume front, over 47.51 lakh shares changed hands on both the bourses.
—-PTI–