Buy Bharti Airtel, target of Rs 453: Sharekhan

Sharekhan has maintained its buy rating on Bharti Airtel with a target price of Rs 453 in its August 19, 2009 research report.

"For April-June 2009 quarter, Bharti Airtel (Bharti) has been successful in strengthening its gross revenue (GR) market share to 33.8% and maintaining its subscriber market share at 24%, despite the tough competition due to entry of new players. We maintain our 'Buy' recommendation and price target of Rs 453 for the stock," says Sharekhan's research report.

Source : Money Control
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Bharti and MTN open talks of merger again.

Bharti Airtel India’s leading telecom service provider today in its press release said that it has renewed its effort to acquire 49% stake in MTN. The deal is suppose to be of woofing 23 Billion $.

The deal being pursued, could potentially create a telco that will rank in the top 5 globally, with more than 200 million customers and $20 billion in annual revenues.

Bharti Airtel will buy a 49% shareholding in MTN. MTN and its shareholders will acquire a 36% economic interest in Bharti, of which 25% will be held by MTN and 11% by MTN shareholders.

Bharti and MTN have agreed to discuss the potential transaction until July 31 , 2009.

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