Despite the merger announcement, the Aditya-Birla group promoted Idea-Cellular's share price has dropped by almost 50 per cent in the last two months. The share closed at Rs 51.45, down by 11.83 percent on Friday.
The telecom service provider Bharti Airtel announced the news on Friday.
Entry-level 4G smartphones under Airtel's "Mera Pehla Smartphone" programme will be shipped with Android Oreo (Go) OS starting March 2018.
The total revenue of the company stood at Rs 20,319 crore for the third quarter of 2017-18 compared to Rs 23,336 crore posted during the third quarter of 2016-17. It was a drop of 12.9 per cent.
The acquisition will make Airtel Rwanda the second largest operator in the country with revenues of over $80 million and a revenue market share of over 40%.
The deal, valued at $350 million, will see Bharti Airtel and another group entity collectively offload 20% stake in Bharti Telemedia Ltd, its DTH paid TV service provider.
Under the plan, Airtel will set up over 2,000 mobile towers/sites in unconnected pockets of the North East and deliver telecom connectivity to citizens in over 2,100 villages over the next 18 months.
Bharti Foundation also announced its plans to set up the Satya Bharti University for Science and Technology to complement its existing programmes in the area of education.
As on September 2017, Airtel's consolidated debt stood at Rs 91,480 crore.
Airtel is likely to shut down its 3G network in 3-4 years and refarm the spectrum linked with it for 4G services.
The rally was spurred by Bharti Airtel's performance in the Africa market with operating profit margins improving over 9 per cent.
Airtel's total revenue fell 11.7 per cent to Rs 21,777 crore during the second quarter of 2017-18, from Rs 24,651.50 crore in the year-ago period.
Shares of Airtel and Idea rallied sharply on the tariff increase by Reliance Jio.
The acquisition is subject to requisite regulatory approvals, Bharti Airtel and Tatas said in a statement without revealing the acquisition amount.
Sunil Mittal said Airtel is awaiting a report by a high-level inter-ministerial panel and the government on stress in the telecom sector.
However, now, Airtel has replied to Nitin and has solved his problem, admitting that it was a technical glitch. Moreover, the company's response seems to have been apparently to Nitin's satisfaction.
Bharti's total revenue fell 14 per cent to Rs 21,958 crore in the first quarter of 2017-18, from Rs 25,546 crore in the year-ago period
The latest report by TRAI places Reliance Jio on top spot, while placing Bharti Airtel two spots lower on fourth spot
The Zonal Police headquarters in Kashmir on May 27 directed telecom operators to stop all data services on mobile phones and all services on prepaid connections.
Airtel will see another 2 -5 per cent fall in revenue this fiscal before returning to growth in the following year, as stiff market competition keeps pricing under pressure, S&P Global Ratings said on Friday
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