Bharti Airtel has signed a definitive agreement to acquire 100 percent equity stake in Augere Wireless Broadband India that incorporated in 2007.
Shares of Bharti Airtel climbed 3 percent in early trade Thursday following acquisition of New Delhi-based wirless broadband internet service provider. The top telecom operator with operations in 20 countries across Asia and Africa on Wednesday said it has signed a definitive agreement to acquire 100 percent equity stake in Augere Wireless Broadband India that incorporated in 2007. Augere holds 20 MHz of BWA spectrum in Madhya Pradesh and Chhattisgarh circles (MPCG). Upon acquisition, it will become a wholly-owned unit of Airtel, said the company. The acquisition is subject to necessary statutory and regulatory approvals. At 09:29 hours IST, the scrip of Bharti Airtel was quoting at Rs 346.30, up Rs 6.55, or 1.93 percent on the BSE.
Shares of Bharti Airtel climbed 3 percent in early trade Thursday following acquisition of New Delhi-based wirless broadband internet service provider. The top telecom operator with operations in 20 countries across Asia and Africa on Wednesday said it has signed a definitive agreement to acquire 100 percent equity stake in Augere Wireless Broadband India that incorporated in 2007. Augere holds 20 MHz of BWA spectrum in Madhya Pradesh and Chhattisgarh circles (MPCG). Upon acquisition, it will become a wholly-owned unit of Airtel, said the company. The acquisition is subject to necessary statutory and regulatory approvals. At 09:29 hours IST, the scrip of Bharti Airtel was quoting at Rs 346.30, up Rs 6.55, or 1.93 percent on the BSE.
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