Saturday, October 20, 2018
facebook

google plus
FLASH
  • Helpline numbers for Amritsar accident: #Manawala station- Rly -73325, BSNL - 0183-2440024; Power Cabin ASR-Rly - 72820, BSNL - 0183-2402927; Vijay Sahota,SSE: 7986897301 and Vijay Patel, SSE: 7973657316
Business

Posted at: May 15, 2018, 1:09 AM; last updated: May 15, 2018, 1:09 AM (IST)

Merger of Telenor with Airtel gets DoT approval

User base up at 330m

  • With the completion of this transaction, Airtel’s total mobile customer base in India now stands at over 330 million
  • All existing customers of Telenor India will now become a part of Airtel network
  • Airtel will also take on some of the Scandinavian telco’s local liabilities which include outstanding spectrum payments of some Rs 1,650 crore and other operational contracts, including tower leases with Bharti Infratel and Indus Towers, besides employees

Tribune News Service

New Delhi, May 14

Country’s largest telecommunication services provider Airtel and Telenor South Asia Investments Pte Ltd on Monday announced the completion of their transaction, wherein Airtel has acquired the operations of Telenor (India) Communications Private Limited (“Telenor India”).

All existing customers of Telenor India will now become a part of Airtel network, Bharti Airtel said in a late evening statement. With the completion of this transaction, Airtel’s total mobile customer base in India now stands at over 330 million.

Earlier in the day, the DoT had approved the long-pending merger of Telenor with  Airtel. The approval came within days of the Supreme Court rejecting DoT’s petition for security deposit of around Rs 1,700 crore from the companies and directed it to approve the merger.

The guarantee included Rs 1,499 crore for one-time spectrum charge for the radiowaves allocated to Airtel without auction, and over Rs 200 crore for spectrum payment which Telenor has to make.

COMMENTS

All readers are invited to post comments responsibly. Any messages with foul language or inciting hatred will be deleted. Comments with all capital letters will also be deleted. Readers are encouraged to flag the comments they feel are inappropriate.
The views expressed in the Comments section are of the individuals writing the post. The Tribune does not endorse or support the views in these posts in any manner.
Share On