New Delhi: Shares of telecom operator Bharti Airtel on November 28 surged nearly 6 per cent after the company acquired 4.2 per cent stake held by Econet Wireless in its Nigerian arm. The stock soared 5.53 per cent to end at Rs 317.50 on BSE. During the day, it zoomed 6 per cent to Rs 319.20.
At NSE, it jumped 5.91 per cent to close at Rs 318.80. The stock was the top gainer on both Sensex and Nifty during the day. The company added Rs 6,656.45 crore to Rs 1,26,917.45 crore in its market valuation.
On the volume front, 3.12 lakh shares of the company were traded on BSE and over 44 lakh shares at NSE during the day.
"Bharti Airtel International (Netherlands) BV through its wholly owned subsidiary has completed the acquisition of Econet Wireless Limited's entire 4.2 per cent shareholding in Airtel Nigeria. As a result, Airtel's overall holding in Airtel Nigeria has increased to 83.25 per cent," Airtel said in a statement on Saturday.
Though financial details of the deal were not disclosed, Econet had valued the stake at USD 3 billion.
