Stocks of Bharti Airtel ended with nearly 4 per cent gains today after the company entered into an exclusive agreement with France-based telecom operator Orange to sell its four subsidiaries in Africa.
The stock ended the day at Rs 445.25, up 3.68 per cent from its previous close on the BSE. During the day, it gained 5.35 per cent to Rs 452.45 — its 52-week high.
At the NSE, shares of Airtel went up 3.67 per cent to Rs 445.25.
On the volume front, 3.81 lakh shares of the company changed hands at the BSE and over 60 lakh shares were traded at the NSE during the day.
“Orange and Bharti Airtel International (Netherlands) BV (Airtel) enter an exclusive agreement concerning four Airtel subsidiaries in Africa,” the company said in a statement yesterday.
But it said there is no certainty of any binding agreement as a result of these discussions.
“The two telcos 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 statement said.