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Bharti Airtel moves higher as its arm enters into definitive agreement with Orascom to acquire ‘MENA-SCS’

Bharti Airtel Ltd. | Telecommunication - Service Provider | Telecom | BSE: 532454 | NSE: BHARTIARTL

21 Dec 2016 Evaluate

Bharti Airtel is currently trading at Rs. 303.90, up by 1.65 points or 0.55% from its previous closing of Rs. 302.25 on the BSE.

The scrip opened at Rs. 304.40 and has touched a high and low of Rs. 305.05 and Rs. 301.60 respectively. So far 36577 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 384.90 on 28-Apr-2016 and a 52 week low of Rs. 282.30 on 29-Jan-2016.

Last one week high and low of the scrip stood at Rs. 322.00 and Rs. 299.50 respectively. The current market cap of the company is Rs. 121520.96 crore.

The promoters holding in the company stood at 67.14%, while Institutions and Non-Institutions held 31.47% and 1.36% respectively.

Bharti Airtel’s subsidiary - Network i2i has entered into a definitive agreement with Orascom Telecom Media and Technology Holding S.A.E (Orascom) to acquire Orascom’s entire equity stake in Middle East North Africa Company Submarine Cable Systems S.A.E (MENA-SCS). The acquisition is subject to requisite regulatory approvals.

MENA-SCS is a 100% subsidiary of Orascom. MENA-SCS owns and operates a submarine cable network between India and Europe covering Middle East, with options to extend the network to Africa. It is a state-of-the-art submarine optic network capable of carrying Multi Tera bits per second of data speeds.

The proposed acquisition of MENA-SCS is aimed at further strengthening Airtel’s global network that currently runs across 225,000 Rkms, covering 50 countries and 5 continents. The additional capacity will enable Airtel to serve the growing demand for data services and enterprise services across its footprint of 18 countries across South Asia and Africa.

Bharti Airtel Share Price

1846.55 6.20 (0.34%)

17-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
Bharti Airtel	1846.55
Vodafone Idea	9.62
Indus Towers	412.35
Tata Communications	1521.05
Bharti Hexacom Ltd.	1538.30
View more..

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Bharti Airtel moves higher as its arm enters into definitive agreement with Orascom to acquire ‘MENA-SCS’

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