Bharti Airtel adds 2% on acquisition of Tikona Digital

Shares of Bharti Airtel added nearly 2 percent intraday on May 30 after the company acquired Tikona Digital.

The telecom major in its exchange release said it has completed the merger of Bharti Digital Networks Pvt Ltd, formerly known as Tikona Digital Networks Pvt Ltd, with itself.

In March 2017, Airtel acquired the 4G business of Tikona, including broadband spectrum and 350 sites across five circles, for about Rs 1,600 crore.

In a separate announcement, Bharti Airtel-backed Airtel Africa received approval of the UK Financial Conduct Authority (FCA) for document registration, as it plans to raise over $1 billion, in exchange of 25 percent stake, from the London Stock Exchange.