Bharti Airtel in the green

Bharti Airtel opened in the positive today, going up by Rs.10 to Rs.348, its current intra day high. It has come off that level now and is at Rs.342, up some 1%.

The stock price is in the green today after the company confirmed that it will acquire Tikona Digital Networks’ 4G business for Rs.1600 crore.

Obviously this is a move to ramp up its broadband spectrum capacity inorder to take on competition from Vodafone-Idea combine and Reiance Jio.

This takeover will give Bharti access to Tikona’s 4G airwaves in five circles, Gujarat, East Uttar Pradesh, Himachal Pradesh and Rajasthan.

The only cog in the wheel – the co-founder of Tikona has slapped a legal notice against Bharti and Tikona also for not divulging details of how the money is to be split amongst shareholders. This, many say, will not truly affect the deal too much, which is expected to go through smoothly.