Airtel’s Buyout Offer of the Indian Branch of Telenor Goes Through NCLT

Airtel in its feud against Jio has been making audacious attempts on its half to make competitive decisions which would help them put a strong fight against Jio. One such decision was buying the Indian branch of Norway’s Telenor. News comes that Airtel’s offer to buy the telecom giant has finally gone through the National Company Law Tribunal (NCLT). Bharti Airtel entered into an agreement with Telenor South Asia Investments Pte in February 2017 to buy out Telenor India’s operations in Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam. These circles are Airtel’s big gainers contributing to 35% of the total revenue of the company. Also, Airtel will be taking over the local liabilities of the company.

airtel-telenor-merger-india

Bharti Airtel has got reasons to rejoice about this merger as this big step brings a lot to the table for them and give them fuel to capture their lost market share back. This deal gives them 43.4 units of 4G spectrum in the 1800 MHz band thus establishing a stronghold in these prominent circles. This news is reported by Economic Times.

The good news for Airtel doesn’t only end here; the merger has apparently gone through every other body like country’s antitrust regulator, Competition Commission of India (CCI), market regulator Sebi and stock exchanges, BSE and NSE. Now, only the approval of Telecom Department of India (DoT) remains to be seen.

Telenor’s merger will shift all its assets to Bharti Airtel including the high-fi spectrum payment of 1,650 crore and other operational contracts, including tower leases with Bharti Infratel and Indus Towers along with employees and a huge number of 44 million customers.

It seems as if this decision of buyout of the Norwegian company Telenor was a good step for both the parties as Telenor wasn’t faring really well since its inception in the country in 2009 when it rolled out its services with a partnership with Unitech, under the name of Uninor. All of their licenses were later cancelled in the judgement of the infamous 2G scam.

Read more on:

Chakri is a go-to guy for your next smartphone recommendation. Back in his engineering days, he used to play with smartphones by installing custom ROMs and that passion got him into the tech industry. He still goes nuts about a smartphone knocking his door for review. Currently managing everything at Telecom Talk, Chakri is trying to master PUBG Mobile in his free time.

4
Leave a Reply

avatar
Photo and Image Files
 
 
 
4 Comment threads
0 Thread replies
0 Followers
 
Most reacted comment
Hottest comment thread
4 Comment authors
KaramyogiKaushikswissrcSantu kumar naskar Recent comment authors
newest oldest most voted
Karamyogi
Karamyogi

Airtel has been the number one operator in India since the very beginning.
It will most probably continue to retain it’s position as the leading service provider of India.
It has expanded its network internationally and has made India proud.
All the best to Airtel.

Kaushik
Kaushik

Airtel is fighting jio at all levels! All the best ?

Recent Posts

Vivo V15 Goes on Pre-Orders in India Today, Here’s How It Compares With Rival Oppo F11 Pro

Vivo launched the V15 in India on Friday last week. Just like the V15 Pro, the new V15 also comes...

Apple March 25 Event: Netflix-Style Streaming Service and Revamped News Service Expected to Launch

Apple is expected to launch a slew of new products at its Cupertino headquarters in California on Monday, including a...

WhatsApp Forwarding Info, Frequently Forwarded Features Spotted, May Come to iOS Soon

Facebook-owned instant messaging platform WhatsApp is bringing new features almost every other day in order to enhance the overall chatting...