Indian shares pressured as Bharti falls 9.2 pct .
Monday, February 15, 2010
The BSE Sensex fell 0.7 percent on Monday, with Bharti Airtel sliding to its lowest close in more than two months as investors gave a thumbs down to its $10.7 billion bid to buy Kuwaiti Zain's African assets.
"Bharti dampened the sentiment today," said Vaibhav Sanghavi, director of Ambit Capital. Investors were concerned Bharti may have offered a high price that could strain its earnings over the near term.
Bharti, India's leading mobile operator, began exclusive talks with the Kuwaiti telecom company for a deal that would give it a foothold in a largely untapped region, after it twice failed to reach an agreement with South Africa's MTN Group.
read
0 comments:
Post a Comment