Bharti, Idea Rally on Hopes of Cut in Airwave Prices

February 26, 2013 4:24 AM GMT

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Shares in mobile network operators rallied on Tuesday, with Bharti Airtel Ltd (BRTI.NS) rising as much as 9.3 percent, on hopes the government would have to cut the reserve price in the auctions of remaining airwaves.

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Expectations rose after only Sistema (SSAq.L) bid in an auction of airwaves on Monday.

Bharti shares were up 4.6 percent as of 9:30 a.m., while Idea Cellular Ltd (IDEA.NS) was up 3.2 percent.

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