Wednesday, 4 March 2015

Bharti Airtel gains on China Mobile partnership

Stock up 2% at Rs 357 on the Bombay Stock Exchange

Bharti Airtel gained over 2% at Rs 357 on the Bombay Stock Exchange (BSE) that the telecommunication major announced that it will team up with China Mobile for fourth generation (4G) mobile services. Also, both the companies will be working together to develop 4G enables devices.

The stock opened at Rs 350 and hit a high of Rs 358 till 1214 hrs on BSE.

Speaking on the occasion, Mr.  Sunil  Bharti  Mittal  said ,  “We  are  delighted  to  announce  this  landmark agreement with China Mobile. India and China account for nearly third of all the mobile subscribers globally and this partnership will provide a major platform for development and deployment of 4G and future mobile technology standards as both countries enter a phase of explosive data led growth. We are confident that the exchange of best practices and innovations will help in delivering affordable high speed mobile internet to the masses and contribute to the Indian Government’s ‘Digital India’ vision.”

According to the press release issued by Bharti, both companies will work together for understanding  and sharing testing and validation practices (including network equipment, features and new releases etc.) and also jointly conduct proof of concepts as well as trials.  China  Mobile  and  Airtel  will  also  aim  to  bring  in  cost  efficiencies  by  driving  synergies  in  their procurement trategies, among other collaborative efforts included in this MoU agreement. 

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