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Monday, 6 March 2017

Stock price of Bharti Airtel Ltd., surged to a high of Rs 364 per share in the morning session, on NSE. This up move was backed by announcement of Bharti Airtel's in-country merger with Millicom's operations in Ghana. After the merger both companies will be holding 50% share. Bharti Airtel has been working towards improving its Africa operations over the past 1.5 years, and this new development has been a major move, falling in line with the telecom major's plans.

Airtel has generated $ 1 billion of net cash flow by selling its operations in two countries and sale of towers in all the markets,  in order to reduce its debt burden. Post the merger, the Bharti - Millicom entity will have customer base of 10.2 million. As of December 2016, Ghana had a mobile subscriber base of 38.3 million, which grew 9.4% in CY16.

MTN with 50.4% market share is the top telecom company in Ghana. Currently, Millicom with 13.9% and Airtel with 12% market share, hold number three and four position, respectively. However, the new merged entity will become number two with 25.9%. market share, pushing Vodafone to number three with 21.6% market share. Currently, the stock is quoting at Rs 362.55 per share, up Rs 6.40 per share or 1.80%, on the NSE.

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