Tata Teleservices spikes nearly 18% on merger talks with Sistema and Aircel

Tata Teleservices spikes nearly 18% on merger talks
Shares of Tata Teleservices rallied nearly 18 per cent in early trade on Bombay Stock Exchange (BSE) on report of talks with Russia's Sistema JSFC and Aircel for a three-way merger to create India's third-largest telecom company by subscribers.

Cheering the news, shares of the company gained as much as 17.78 per cent to trade at Rs 7.35 a piece on the BSE.
In a similar fashion, shares of the company soared 12 per cent to Rs 7.00 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 19,871.89, down 21.96 points or 0.11 per cent at 10:45 hours.

Dion Global Solutions Ltd.

Story first published: Friday, September 27, 2013, 12:39 [IST]
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