Bharti-Tata merger shaking up India's wireless market

Singapore

INVESTORS seem to be giving the thumbs up for the merger between India's largest telecom services provider, Bharti Airtel - in which SingTel has a stake - and Tata Teleservices.

At market close, Tata traded up 9.09 per cent to 4.80 Indian rupees, and Bharti rose 7.67 per cent to 430.95 Indian rupees, registering its highest surge over the past five months. Similarly, SingTel gained 0.54 per cent to S$3.70, and was one of the most heavily traded shares on the Singapore bourse with 23.27 million shares changing hands.