Bharti Airtel jumps on Tata mobile unit deal

MUMBAI (Reuters) – Shares in Bharti Airtel (BRTI.NS), India’s top telecoms network operator, rose as much as 7.5 percent in early trade on Friday, a day after it announced the acquisition of the Tata conglomerate’s consumer mobile business almost free of charge.

The “debt-free (and) cash-free” deal with Tata Teleservices will boost Bharti Airtel’s subscriber base by over 40 million, and increase its airwaves in India.

Bharti shares were up 5.5 percent at 0345 GMT, outpacing a 0.35 percent gain in the NSE index .NSEI. Shares in Tata Teleservices (Maharashtra) Ltd (TTML.NS), a unit of Tata Teleservices, rose 9.1 percent.