Update (June 6th): The merger received approval from the Competition Commission of India on Tuesday, as per the telco's BSE filing. Earlier (June 2nd): Bharti Airtel’s proposed merger deal with Telenor has received approval from market regulator SEBI and stock exchanges BSE and NSE. Airtel has also applied to the Competition Commission of India and National Company Law Tribunal, a special court looking into business deals, for further approvals. The proposed acquisition will transfer all of Telenor India’s assets, licenses, and customer base of 44 million into Airtel including Telenor’s active operations in 7 circles— Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam. Both companies had entered into discussions in January, and that time an ET Now report pegged the size of the deal at $350 million. Airtel is set to acquire close to 43.4 MHz of additional spectrum in the 1800 MHz band through the acquisition deal. Airtel will additionally take over all outstanding spectrum payments and other operational contracts, including tower leases. Telenor India’s operations and services will continue to operate independently until the completion of the transaction. Note that Telenor India had earlier mentioned that it was evaluating options in India after industry turned competitive. Telenor India also skipped 2016 spectrum auctions stating that the reserve prices did not give “an acceptable level of return.” During Q4 2016, Telenor lost 689,000 subscribers and another 185,000 users in Q3 2016 post launch of Jio. After the entry of Jio, Smaller players in the industry are either looking to merge with rivals or phase out operations completely. Apart from this, the…
- Indian crypto exchanges plan to collect identity details for crypto transfers to private wallets: Report June 3, 2023
- Jugalbandi, A Chatbot for Rural India by Microsoft and EkStep: What to Know and Think About? June 3, 2023
- Hopeful to See Action Against E-Pharmacies Selling Medicines Online Without Licenses: Pharmacy Body Writes to States and UTs June 3, 2023
- Meta to give advertisers more control using AI and content filters June 2, 2023
- Transparency Report: Here’s all Facebook, Instagram, Twitter and Google had to say about user complaints in April June 2, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Is it safe to consider all "publicly available data" as public?
PhonePe launched an e-commerce buyer app for ONDC called Pincode. We, however, believe that it should also launch a seller app.
Amazon announced that it will integrate its logistics network and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...