INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of Vodafone Idea surged 16 per cent on Friday on reports that the company is pushing for equal stake in a proposed Rs
40,000-crore optic fibre joint venture with Bharti Airtel.
The scrip surged 16 per cent to hit a high of Rs 20.45
Later, the scrip was hovering at Rs 19.25, up 10 per cent at 09:48 am
This was against 0.23 per cent rise in the BSE Sensex
is set to be hived off as a separate unit
The intention is to bring in a strategic partner in the JV in about a year from deal closure," ET reported
one person told ET, adding that the deal should close in the quarter ending June 30, with the JV valued at Rs 35,000-40,000 crore
Earlier in the day, the stock opened at Rs 17.85 on BSE against its previous closing of Rs 17.50
