Bharti Airtel adds 2% on MTN merger progress

The stock ended with a marginal gain of 2% at Rs 417. It has added 11% in the past month. Over 1.20 million shares were traded on the BSE today.
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(Updated at 1044 hrs)

Bharti Airtel has soared around 3% on reports that MTN talks have made progress.

The stock opened at Rs 413 and touched to a high of Rs 424. The scrip is now trading at Rs 420, up 2.5% from the previous close. The counter has clocked volumes of 470,284 shares on the BSE so far.

According to reports, Bharti Airtel and South Africa's MTN group have reached a $24-billion deal in order to buy each other's shares. Bharti Airtel has sweetened its offer by buying 49% of MTN by rasing the cash portion of its $14 billion offer.

Bharti Airtel, however, has denied it had reached an agreementwith MTN.