Dallas, Texas 12/05/2013 (Financialstrend) – AT&T Inc. (NYSE:T) has inked a major agreement with the leading Indian telecom services provider Bharti Airtel Limited (NSE:BHARTIARTL) based on which, the U.S cellular service provider would be able to augment and enhance support to its North American based multinational enterprises need for seamless and reliable telecommunications and internet network connectivity.
Thanks to this agreement with India’s largest telecom operator, AT&T Inc. (NYSE:T) has managed to increase its existing 8 nodes of telecommunication cluster services spread across 5 cities in India to more than 100 additional cities spread across the Indian subcontinent. This would be possible since Bharti Airtel has made its close to “130 Multiprotocol Label Switching (MPLS)-enabled IP Network nodes” available for the use of $182 billion market capped AT&T Inc. (NYSE:T)..
With this augmentation in network resources, AT&T Inc. (NYSE:T) can offer its U.S and Canada based clients transparent and seamless services in the event of them working out of India which continues to be the second most fastest growing economy in the world.
Commenting about this arrangement with Airtel, AT&T senior vice president of Business Solutions and global strategy group has been quoted as saying “AT&T’s goal is to give customers the same experience whether they are expanding into India or internationally from India. Our agreement with Bharti Airtel brings together two of the world’s largest telecommunications companies to better serve customers across India with high-quality services that help multinationals be more productive and efficient.”
Other Related News
AT&T Inc. (NYSE:T) announced yesterday that it is extending its existing contract with Swedish company ASSA Abloy by an additional four years at the cost of $15 million. Under the terms of this reworked agreement, the U.S cellular operator will be able to access its “virtual private network across 400 ASSA ABLOY locations in 70 countries as rolls out a single IT system globally.” Thanks to the renewal, the telecommunications provider would be able to expand its market share in the “virtual private network services” space and would help the firm evolve a complete solution set which will compliment its “mature market of voice and data”.
AT&T Inc. (NYSE:T) has been a underperforming stock among its peers which include Comcast Corporation (NASDAQ:CMCSA), Leap Wireless International, Inc. (NASDAQ:LEAP) and Verizon Communications Inc. (NYSE:VZ). While in general the telecommunications and cellular services provider companies have been going through a relatively depressed phase at the browsers, the stock of $182 billion market capped AT&T Inc. (NYSE:T) has been inhibiting the low negative 1.75% returns during trading yesterday. It had $127.8 billion market capped Comcast Corporation (NASDAQ:CMCSA) for company at these negative return levels. In contrast Leap Wireless International, Inc. (NASDAQ:LEAP) has posted a sector topping 0.5% increase in value where as market leader Verizon Communications Inc. (NYSE:VZ) has managed to post a negligible 0.5% dip during trading yesterday.
Stock Market Performance
Over the past six months, AT&T Inc. (NYSE:T) stock has been treading an erratic up and down path on the browsers in the past 6 months. Net to net it has shed close to 3% in its market value in the same period. While over the past quarter the stock has managed to regain most of those losses to post a 2.5% in the last 90 days, it has gone on to lose most of those gains to end up being 5% down in the course of last one month’s trading. During trading last week, it market value further got eroded by close to 2% and when trading ended yesterday, its stock was trading at $34.6 per share which is just 8.95% lower than its prior 52 week high bench mark.