Tata Comm Gains After Liquid Telecom Inks Pact To Buy Neotel

Shares of Tata Communications Ltd rallied over 3 per cent on the Bombay Stock Exchange (BSE) after Liquid Telecom, a pan-African telecoms group, majority owned by Econet Wireless Global, has entered into an agreement to acquire South African communications network operator Neotel. Neotel is a subsidiary of the company.

Tata Comm Gains After Liquid Telecom Inks Pact To Buy Neotel
Tata Communications: Quotes, News
BSE 531.45BSE Quote2.2 (0.41%)
NSE 531.65NSE Quote1.95 (0.37%)

Cheering the news, shares of the company gained 3.87 per cent in intra-day trade to Rs 467 apiece on Bombay Stock Exchange at 11:42 hours.

In a similar fashion, stocks of the company surged 3.58 per cent to Rs 466.15 apiece, or 16.10 points, on National Stock Exchange at 11:43 hours.

Meanwhile, the broader benchmark BSE Sensex was trading at 26,459.89, up 0.22 per cent, or 54.38 points, at 11:44 hours.

Read more about: tata communications
Story first published: Tuesday, June 28, 2016, 12:50 [IST]
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