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.
