Bharti Airtel Ltd has introduced a new business model for managing fixed line and DSL Broadband networks, on the lines of Indus Towers.
Bharti will initially acquire the entire equity stake of Alcatel Lucent India in Alcatel Lucent Managed Network Service India - a joint venture between Bharti and Alcatel Lucent INdia Ltd. to manage and deploy the former's fixed line and broadband network in India. The operations of the entity will be strengthened by the transition of proven tools, processes and all manpower & skilled resources from the existing joint venture. It will operate independent of Bharti and going forward, will invite other operators to join in with equity participation and bring the management of their broadband and fixed line networks under its fold.
The Bharti Airtel Ltd stock was trading at Rs.325.15, down by Rs.5.80 or 1.75%. The stock hit an intraday high of Rs.332.90 and low of Rs.323.
The total traded quantity was 2.20 lakhs compared to 2 week average of 7.25 lakhs.