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Bharti Airtel stock climbs 3% on bid for RCom assets

Along with Bharti Airtel, VFSI Holdings Pte Ltd and UV Asset Reconstruction Company Limited have submitted their bids.

November 29, 2019 / 10:39 AM IST
 
 
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Shares of Bharti Airtel climbed almost 3 percent on BSE on November 29 after reports emerged that the company has submitted bids for the assets of Reliance Communications (RCom).

A PTI report said Bharti Airtel has submitted conditional bids of around Rs 9,500 crore for debt-ridden Reliance Communications' telecom assets, including spectrum, mobile towers and optical fibre.

Along with Bharti Airtel, VFSI Holdings Pte Ltd and UV Asset Reconstruction Company Limited have submitted their bids.

Read more: Bharti Airtel submits Rs 9,500cr bids for RCom assets

Reliance Jio had asked for more time to submit bids but the company did not turn up even after the CoC extended the deadline to suit its interest.

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As of November 28 close, shares of Bharti Airtel have gained 52 percent in Calendar 2019.

Around 09:55 hours IST, the scrip was 1.76 percent up at Rs 444.40 on BSE on November 29.
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