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February 7th, 2020 6:03 PM 4 COMMENTS

Bharti Airtel and Tata Teleservices Merger Approved by DoT

Tata Teleservices said on Thursday that the DoT has approved the merger of their consumer mobile business with Bharti Airtel. The government body’s approval comes two years after the merger was formally announced. The telecom department in its letter dated February 6 asked the competent authority in DoT to take on record the demerger of consumer mobile business of the company into Bharti Airtel Limited (BAL), said Tata Teleservices in... Read More

July 1st, 2019 6:50 PM 33 COMMENTS

Bharti Airtel Takes On Spectrum, Customers and Liabilities of Tata Teleservices After Merger

The merger process between Indian’s prominent telecom operator, Bharti Airtel and Tata Teleservices has been completed, confirmed the former. The Sunil Bharti Mittal led telecom operator had decided to merge its operations with Tata Teleservices’ consumer business, and as part of that, it will acquire the telco’s customers, spectrum, assets and the outstanding dues. Starting July 1, Bharti Airtel will be making use of Tata Teleservices’ airwaves as the telecom... Read More

June 14th, 2019 1:47 PM 1 COMMENTS

Trai Asks Tata Teleservices to Refund Unspent Account Balance of Subscribers

After the coming of Reliance Jio into the telecom sector back in 2016, the other telecom operators faced heavy competition and some ceded to it very early on. Some of the names in this data tariff war which could not survive the financial wrath included Aircel and Tata Teleservices. Although Aircel decided to wrap up its operations and slipped into insolvency, Tata Teleservices did not meet such an unfortunate fate... Read More

May 27th, 2019 6:30 PM 0 COMMENTS

Bharti Airtel Reportedly Submits Rs 644 Crore Bank Guarantee to TDSAT for Tata Teleservices Merger

Telecom operator Bharti Airtel is learnt to have submitted a bank guarantee of Rs 644 crore in telecom tribunal TDSAT to complete the merger of Tata Teleservices' consumer business with the company. The TDSAT on May 2 granted a partial stay on a Rs 8,300-crore demand raised by the telecom department from Bharti Airtel for approving its merger with the consumer business of Tata Teleservices Ltd (TTSL). "Bharti Airtel has... Read More

April 11th, 2019 6:47 PM 0 COMMENTS

DoT Gives Conditional Approval to Airtel and Tata Teleservices Merger

The Department of Telecom has given approval for the merger of Tata Teleservices (TTSL) with Bharti Airtel, subject to the condition that the Sunil Bharti Mittal-led firm furnishes Rs 7,200 crore worth bank guarantee, a government official said to reporters at PTI. On April 9, telecom minister Manoj Sinha gave a conditional nod for the merger, the official said. Subsequent to the minister's approval, the official told PTI, that DoT... Read More

March 12th, 2019 1:36 PM 6 COMMENTS

DoT to Put Demand of Rs 15,000 Crore in Charges from Bharti Airtel and Tata Teleservices for Merger Clearance

The data tariff war kick-started by Reliance Jio started a consolidation stream in the industry. As a result, many companies shut operations, and a lot of merger and acquisitions happened. After the significant M&A of the Vodafone India and Idea Cellular, Bharti Airtel and Tata Tele Services are the next to go through a similar ordeal. In a new update, the Department of Telecommunications (DoT) has announced that Bharti Airtel... Read More

January 22nd, 2019 10:37 AM 5 COMMENTS

Bharti Airtel and Tata Tele Merger Receives NCLT Approval

The National Company Law Tribunal has approved the merger of loss-making telecom firm Tata Teleservices with Bharti Airtel, according to an exchange filing on Monday. The merger is subject to the approval of the Department of Telecommunications (DoT). Both the parties will now approach the telecom department for the approval of the merger and the clearance might take a while. "Hon'ble National Company Law Tribunal, New Delhi, Principal Bench, vide... Read More

December 20th, 2018 5:55 PM 14 COMMENTS

Bharti Airtel and Tata Teleservices Merger Deal Receives Clearance from NCLT Mumbai Bench

In its bid to strengthen 4G network capacity and to bridge the gap in subscriber base between the telecom leader, Vodafone Idea, Bharti Airtel made the move to acquire the Tata Teleservices’ consumer mobility business last year. However, the acquisition was pending clearance from the National Company Law Tribunal (NCLT). In the latest revelation made by ET Telecom, the Mumbai bench of the NCLT has finally approved the Sunil Bharti Mittal... Read More

October 31st, 2018 5:34 PM 0 COMMENTS

Tata Teleservices to Sell Half of Its Stake in Tower Company ATC for Rs 2,360 Crore

Tata Teleservices has offered to sell half of its stake and IDFC its entire stake in mobile tower company ATC TIPL to majority shareholder American Tower Corporation (ATC) for Rs 2,940 crore. Tata Teleservices Ltd (TTL) has also offered to pay USD 320 million or about Rs 2,360 crore to ATC Telecom Infrastructure Pvt Ltd (ATC TIPL) for termination of lease obligations following the closure of its mobile services business... Read More

October 22nd, 2018 9:32 PM 6 COMMENTS

Tata Sons Reduces its Entire Investment of Rs 28,651 Crore in Loss-Making Tata Teleservices

Tata group holding company Tata Sons has written off its entire investment of Rs 28,651.69 crore in loss-making telecom arm Tata Teleservices, according to a regulatory filing. Tata Sons are in the process of transferring the consumer mobile business of Tata Teleservices to Bharti Airtel and hiving off the enterprise segment to merge with the group's networking arm Tata Communications. "The company has considered it appropriate to write off the... Read More

August 30th, 2018 9:38 AM 11 COMMENTS

Bharti Airtel Shareholders Favours Merger Proposal With Tata Teleservices

Shareholders of Bharti Airtel has approved the proposed merger with Tata Teleservices, according to the company. The merger which is now looking for the approval from National Company Law Tribunal (NCLT) is expected to be finished by the end of March 2019. In a regulatory filing, Airtel revealed that 99.97% of shareholders voted in favour of the merger. "The special resolution to approve the proposed composite scheme of arrangement between... Read More

August 11th, 2018 10:01 AM 38 COMMENTS

Tata Tele Maharashtra to Raise Additional Fund of Rs 20,000 Crore Through Debt

Debt-ridden telecom firm Tata Teleservices Maharashtra has now received its board's approval to raise an additional fund of Rs 20,000 crore through debt instruments. "...the board of directors of the company at its meeting held on August 10, 2018, has approved raising of additional funds up to an aggregate amount of Rs 20,000 crore," Tata Teleservices (Maharashtra) said in a regulatory note, as reported by PTI. The fundraising will be... Read More

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