MUMBAI: Bharti Airtel Ltd surged the most since in five months after it announced that it had agreed to absorb Tata Group’s mobile-phone business in the latest among mergers shaking up one of the world’s most crowded wireless markets.
The stock gained as much as 9.2%, the most intraday since May 10, after India’s largest mobile-phone operator said it will get Tata Teleservices Ltd’s airwaves and 40 million customers in a “debt-free cash-free” merger.
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