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Telecom stocks slump following merger announcements

BGR India Monday, 20 March 2017
On the day of major merger announcements in the telecom space, the telecom sector shed marginal gains and traded in the red during the mid-afternoon trade session. At 1.00 pm, the telecom stocks, which opened at 1,268.30 points, traded at 1,254.37 points — down 10.81 points or 0.85 percent. Telecom giant Bharti Airtel was one of the biggest gainers. Its shares were trading up 0.06 percent at Rs 347 per scrip at the BSE, while Reliance Communications was down by 0.39 percent at Rs 38.10 per share. Idea Cellular was the worst loser — down 7.18 percent at Rs 100.15 per share. ALSO READ: Reliance Communications-Aircel merger receives CCI approval In one of the biggest mergers in the telecom space, Vodafone India and
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Source: Euronews English - < > Embed
News video: Vodafone to merge Indian business with local rival Idea

▶ Vodafone to merge Indian business with local rival Idea 00:45

A huge telecoms merger has been announced in India. Britain’s Vodafone is joining with Idea Cellular in a deal worth the equivalent of 21.3 billion euros. Together they will become India’s biggest telecoms business with almost 400 million customers, overtaking the market leader Bharti Airtel. The...

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