DoT okays Airtel-Telenor merger; here is how the deal unfolded

DoT okays Airtel-Telenor merger; here is how the deal unfolded

DoT okays Airtel-Telenor merger; here is how the deal unfolded

The department of telecommunications (DoT) has approved the merger of Bharti Airtel and Telenor India.

All customers of Telenor India would become part of Airtel's. The latter will get 43.4 MHz of spectrum in the 1,800 MHz band from Telenor.

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"Consequent to the sanction of the scheme of amalgamation...by the Hon'ble National Company Law Tribunal vide its order dated 08.03.2018...the approval of the competent authority is accorded to take on record the merger of M/s Telenor (India) Communications Private Limited with M/s Bharti Airtel Limited", said a letter issued by the department to Bharti Airtel. Bharti will acquire Telenor India's operations in seven circles - Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam.

"The present merger is taken on record without prejudice to the rights, contentions, remedies and steps which may be taken by the department, in pursuance of any subsequent orders of any orders, judgements and decisions of Hon'ble Courts/Tribunals in related matters. pending in the Bombay High Court, TDSAT and Supreme Court", DoT said.

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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. Post-merger, Bharti will have a revenue market share of 32.3 per cent, subscriber market share of 29 per cent and its total spectrum holdings across all bands will increase to 979.45 MHz. It would create the country's largest mobile telecom operator, with a subscriber base of a little over 400 million.

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