DoT approves Bharti Airtel's aquisition of Telenor India

Department of Telecommunications approves Bharti Airtel Telenor merger

The department of telecommunication has given its approval to Airtel's acquisition of Telenor India.

DoT was asking Airtel to submit a bank guarantee as one-time charges for spectrum before its approval to buy Telenor's India operations.

The telecom major said that all existing customers of Telenor India will now become a part of India's largest mobile network and will enjoy world-class services - high-speed data, voice, and content at affordable prices.

After the deal's approval, Airtel will formally buy Telenor India in a no-cash deal and take over its spectrum payment dues of about Rs 16.5 billion. All the customers will be transitioned seamlessly to the Airtel network and will continue to enjoy uninterrupted services with the Same SIM, Same Number, and Same Plan/Pack benefits, said Bharti Airtel on Monday in a stock market filing.

This also marks the exit of Telenor from India which had a tumultuous journey since its entry in the country's telecom space in 2008. The acquisition consolidates our market leadership and further strengthens our network portfolio in key markets and will add to shareholder value. According to the terms & agreement of the merger agreement, it is likely that Airtel will acquire Telenor's Indian business operations across states such as Assam, Andhra Pradesh, Uttar Pradesh (West), Bihar, Maharashtra, Gujarat, and Uttar Pradesh (East). "I would like to thank the Telenor India team for their relentless and unwavering efforts over the years", Telenor Group CEO Sigve Brekke said. The Telecom Disputes Settlement and Appellate Tribunal dismissed the condition, although Airtel has paid the requested INR2 billion for Telenor's spectrum. As a part of the agreement, Airtel will also take over outstanding spectrum payments and other contractual commitments such as tower lease agreements.

Mets Places Yoenis Cespedes On 10-Day Disabled List
Cespedes will be eligible to return on May 24 but in the meantime, the team has recalled Phillip Evans from triple-A Las Vegas. The Mets placed Cespedes on the 10-day disabled list Wednesday with a strained right hip flexor, retroactive to Monday.

Statoil may disappear by Wednesday after vote on renaming
On Wednesday morning, Norwegian oil major Statoil will formally remove "oil" from its name. Support CleanTechnica's work via donations on Patreon or PayPal !

According to Gearbox Software Borderlands 3 Won't Be at E3 2018
You can read the whole thread if you want, but here's the important tweet that actually relates to what you ought to know. This was revealed by one of Gearbox's representatives who announced the news in a room of journalists earlier today.

Airtel will absorb Telenor India's 38 million mobile connections, bringing its total up to roughly 340 million and increasing its market share by 3% to a total of 28%.

Both the companies had entered in to agreement for the deal in February 2017.

The merger will bolster Airtels spectrum footprint in these seven circles, with the addition of 43.4 MHz spectrum in the 1800 MHz band. Airtel is aiming to compete more effectively against the newcomer and its established rivals, including Vodafone India and Idea Cellular, which are now in the process of merging to create a new market leader.

Further, Reliance Jio has agreed to buy wireless assets of Reliance Communications while Aircel has filed for bankruptcy.

The deal will help Airtel telecom widen its lead over Mukesh Ambani-led Reliance Jio.

Related:

  • "Audience from Pakistan will relate to Manto", shares Nandita Das

    I don't think audience from Pakistan, Bangladesh and Sri Lanka will not be able to relate with it, it's a very relatable story. The unspoken regard and understanding and solidarity for the challenges we have all had to face to be here was so so powerful.
    White Woman Calls Police on Black Real Estate Investor Inspecting House

    White Woman Calls Police on Black Real Estate Investor Inspecting House

    Hayes said the woman then insulted him and the police officers, saying they weren't doing their jobs. He was pulling a board off the boarded-up home's front down when a woman next door came outside.
    Woman detained after feces flinging incident at Langley Tim Hortons

    Woman detained after feces flinging incident at Langley Tim Hortons

    She can then be seen picking up her excrement from the floor with here bare hands, and throwing it at staff behind the counter. On Wednesday disturbing surveillance video showing Tim Hortons staff being harassed was posted on Liveleak and YouTube.
  • LEGO The Incredibles | Official CrimeWaves Trailer

    LEGO The Incredibles | Official CrimeWaves Trailer

    Superhero fashion designer Edna "E" Mode can modify every character's appearance and abilities to create a customized super team. To succeed, players must work together and combine the Parrs' unique abilities to combat crime and manage family life.
    Swansea relegated after seven seasons

    Swansea relegated after seven seasons

    Swansea's seven-year stay in the top flight appears to be over ahead of Sunday's final round of fixtures. We recognise the huge role the club plays in the community and its importance.
    Hamas denies it was under pressure from Egypt to curb Gaza protests

    Hamas denies it was under pressure from Egypt to curb Gaza protests

    On the contrary, it is growing and developing. "When we talk about 'peaceful resistance, ' we are deceiving the public", he explained.

  • Colony NorthStar, Inc. (CLNS) Stock is In Active Momentum on technical Analysis

    A company that manages their assets well will have a high return, while if manages their assets poorly will have a low return. Technical analysis of Hewlett Packard Enterprise Company (HPE) stock includes study of technical indicators and past trends.
    10-year-old bitten by shark on SC coast talks about experience

    10-year-old bitten by shark on SC coast talks about experience

    Jei says he caught a glimpse of the shark, saying it was about 5 feet long. "It was just dripping flesh and blood". Padgett said she did not know the fisherman and was not involved in catching the shark.
    Jose Mourinho hails

    Jose Mourinho hails "unbelievable" Michael Carrick

    Between heart problems and declining mobility, he was a bit-part player for the last couple of years at United. It's the same with Andres Iniesta and Luka Modric - they keep things ticking over, as does Carrick.
  • Live music and entertainment announced for crowds at Royal Wedding

    Live music and entertainment announced for crowds at Royal Wedding

    Police said today they were offering the homeless an opportunity to store their belongings until after the big day. Anyone with large items that are deemed to be a security risk are likely to have those items removed'.

    This stock can prove its worth: Lexington Realty Trust (LXP)

    The investment professionals in our partner's database now own: 67.46 million shares, up from 67.06 million shares in 2017Q3. California State Teachers Retirement Sys has invested 0.03% of its portfolio in Federal Realty Investment Trust (NYSE:FRT).
    DHS: Most Illegals at Border Don't Meet Criteria to Enter US

    DHS: Most Illegals at Border Don't Meet Criteria to Enter US

    Nielsen testified days after The New York Times reported that Trump blasted her at a cabinet meeting last week for failing to stop illegal border crossings.

Comments

Latest news

White House calls deaths in Gaza 'propaganda' by Hamas
President Donald Trump had announced the embassy move on 6 December, which immediately sparked violent protests. Shah says that "Israel has the right to defend itself" and is blaming Hamas for the "dire situation".

Cavs Player Called Danny Ainge 'A [Expletive] Thief' This Season
While the TD Garden crowd roared in anticipation of Game 2 , there was nothing really for team officials to celebrate. Crowder was not the roleplayer whose antagonist demeanor and pesky defense gave Cleveland the boost it did in Boston.

Liam Payne Reveals Album Release Date Ahead of GMA Performance
We had to change restaurants three times, my mum got knocked over by a paparazzi, then I was like 'Right, I'm done". The song debuted at Number 3 on the Official Singles Chart and spent nine weeks inside the Top 10.

Indore Ranked as Cleanest City For Second Time Under Swachh Bharat Mission
The numbers do the talking: 79 percent of respondents from over 4,000 cities had reported improvement in the context of cleanliness.

Karolina Pliskova Hits Umpire's Chair With Racket After Loss
Pliskova argued but the call ultimately stood even though replay clearly showed Pliskova's ball catching the line. With the deciding set even at 5-5, Pliskova had a shot that was wrongly called out by a linesperson.

Suicidal Thoughts, Attempts On The Rise Among Young People: 'It's A Critical Public-Health Crisis Right Now'
Kids suicide-related hospital visits nearly tripled from 2008 to 2015, but there is no clear reason why, according to new study. The outcomes suggest that the rate of suicidal attempts increased in the fall and spring, and lowest in the summer.

Ubiosft now taking registrations for The Crew 2 closed beta
Forget what you know about the first game, though, The Crew 2 is a far bigger, more ambitious prospect than its forebear. Ubisoft has announced plans to host a closed beta for The Crew 2 , from May 31 at 8 am UTC to June 4 at 8 am UTC.

Canada Ready to Compensate Kinder Morgan for Pipeline Losses
His minority government exists at the pleasure of the Green party, and on condition of his continued opposition to the project. The $7.4-billion Trans Mountain pipeline has been at the centre of a row between Alberta and British Columbia.

UFC announces debut event in Moscow
The UFC also announced the promotion of Andre Gromkovski as Vice President for UFC Russia. He is now the Editor-in-Chief of Campus Sports.

Indian Gaming Commission Responds To SCOTUS Decision On Sports Betting
The new CT law allows state officials "to regulate wagering on sporting events to the extent permitted by state and federal law". That ruling strikes down a federal ban in place since 1992 that restricts sports betting for most states.

Democratic Primary for Nebraska's 2nd District Remains Too Close to Call
Krist has pitched himself as a less partisan alternative to Ricketts who would work more collaboratively with the Legislature. Ashford maintained his position as a seasoned moderate who would build relationships with Republicans.

Deadpool took over from Stephen Colbert and slammed Donald Trump
Deadpool is a character that could easily become grating, but these films walk that fine line of making him oddly endearing. The movie throws everything against the wall but not a lot sticks when you walk out the door. "I bet it's Deadpool 2 ".

Woods to play Memorial in US Open tune-up
The 43rd Memorial Tournament at Muirfield Village Golf Club in Dublin, Ohio, is hosted by Jack Nicklaus May 31-June 3. It will nearly certainly be his final tournament before the U.S.

Kenya's president signs cybercrimes law opposed by media rights groups
Through the Cybercrimes Act, the government is going to establish a National Computer and Cybercrimes Coordination Committee. The country has been grappling over fake news control due to an existing lacuna in the law which has since been sealed.

Milwaukee Bucks reportedly reach agreement with Mike Budenholzer to be head coach
Budenholzer has experience as an National Basketball Association head coach, having last coached the Atlanta Hawks from 2013-18. During Budenholzer's tenure, the Hawks made the playoffs four times, including a trip to the Eastern Conference Finals in 2015.

Other news

Copyright © 2015. All Rights reserved -