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Bharti Airtel To Sell Four Subsidiaries To Orange; Stock Up 5 Per cent
Shares of the Bharti Airtel surged on Tuesday after the company said that it has entered into an exclusive agreement concerning four Airtel subsidiaries in Africa.
Bharti Airtel International (Netherlands) BV is a subsidiary of Bharti Airtel Limited.
Bharti Airtel share price and financials
Orange and Airtel have entered into an exclusive agreement to explore the possible acquisition by Orange of Airtel's subsidiaries in Burkina Faso, Chad, Congo Brazzaville and Sierra Leone, the company said in the press release.
However, there is no certainty of any binding agreement as a result of these discussions, the Bharti Airtel added.
Orange is one of the world's leading telecommunications operators with sales of 39 billion euros in 2014 and 155,000 employees worldwide at 31 March 2015, including 98,000 employees in France.
The company will announce financial results for the 1st Quarter (Q1) on August 04, 2015.
Shares of the company were seen trading at Rs 449, higher by 4.70 per cent on BSE at 12.10 PM IST. It touched an intra-day high of Rs 450.85 during the trade.
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