India’s largest telecom operator bharti airtel heralded that it will acquire Telenor India assets as reliance jio has acquired 100 mn users and the market is awaiting response on a potential voda-idea merger. The Telenor acquisition will give bharti airtel additional spectrum in 1800 MHZ band.
The telecom industry is abuzz with consolidation activity since the arrival of Reliance JIO last September. According to brokerage firm CLSA , says that combined activity would have a 40% active subscriber market share and would also have 43% revenue market share. Meanwhile tata teleservices and reliance communications- Airtel-MTS combine are reportedly considering joining forces to counter the tough competition from Reliance Jio.
BELLIGERENT TELECOM INDUSTRY:
· Bharti Airtel outpours over 10 per cent post deal with Telenor
· Shares of Bharti Airtel BSE 4.91 % surged as much as 11 per cent in early trade on Thursday and hit fresh 52-week high of Rs 400.65 after the company proclaimed that it has entered into a definite agreement with Telenor South Asia Investments Pte to acquire Telenor (India) Communications Private Ltd.
· Its adversary telecom counterpart Idea Cellular BSE 4.58 % was trading 6.49 per cent in early deals. Reliance Communication was up nearly 4 per cent.
· On Wednesday, Shares of RIL were trading 0.52 per cent up at Rs 1,213.95.
RIL stock skyrocketed 11 per cent to nearly 9-year high, adding Rs 38,761 crore to its market valuation, after the company’s telecom rival Jio said it will instigate accusing for data services from April.
Thanks for the detailed coverage on Telecom industry. Currently any consolidation news are seen very positive by the market as the competition testing the market very badly.