Bharti Airtel shares fall on 3G roaming concerns

Image
Reuters
Last Updated : Mar 15 2013 | 2:50 PM IST

Reuters Market Eye - The Department of Telecommunications (DoT) ordered Bharti Airtel Ltd to stop providing 3G roaming services outside of its licensed zones, said a source with direct knowledge, sending shares of the company down 1.1 percent.

The DoT also has said Bharti must pay a penalty of 3.5 billion rupees, the source said.

A Bharti spokesman did not have immediate comment.

The government last year barred wireless service providers from offering 3G roaming services outside their areas of service, but a court halted the execution of the order.

Mobile companies in India own 3G licenses only for specific areas of the country and often have agreements with other wireless providers to provide roaming services outside of those areas.

Shares of Idea Cellular , which is also involved in the dispute related to 3G roaming pacts, down 1.2 percent.

(Reporting by Aradhana Aravindan)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Mar 15 2013 | 2:35 PM IST

Next Story