Tata Teleservices Limited (TTSL) has entered a merger deal with Bharti Airtel on Thursday. The acquisition is subject to requisite regulatory approvals.
Bharti Airtel may have to pay the unpaid spectrum liability of Tata Teleservices Ltd to DoT. As part of the deal, Bharti Airtel will merge consumer mobile businesses (CMB) of Tata Teleservices Limited and Tata Teleservices Maharashtra. The acquisition is being done on a debt-free and cash-free basis.
Consumer Mobile Business (CMB) of TTSL and TTML will be acquired by Bharti Airtel in 19 circles. Bharti Airtel wants to lead the digital revolution in India by offering world-class and affordable telecom services. Sunil Bharti Mittal, Chairman of Bharti Airtel has ensured seamless integration between two telcos.
The acquisition will strengthen Airtel’s market position. Tata customers will soon be shifted to the Airtel network. In several key areas, Airtel’s will give stiff competition to other telecoms after Tata customers are switched to Airtel’s network. Tata customers will be able to enjoy India’s widest and fastest voice & data network.
According to Mittal, an acquisition of the additional spectrum makes an attractive business proposition. The telecom will create substantial long-term value for shareholders through this acquisition. On Tata’s side, this is the optimal and best-suited choice for the company. Tata Group has not only made the right choice for its shareholders but to also customers using Tata network.
Goldman Sachs India Securities is facilitating the merger transaction. Airtel will also acquire Tata’s fiber-optic network as part of this acquisition. Tata Group is likely to shift most of TTLS employees to Airtel. The company hasn’t announced any update on layoffs and exit plan which was revealed earlier this week.
Courtesy : Techgig
Bharti Airtel may have to pay the unpaid spectrum liability of Tata Teleservices Ltd to DoT. As part of the deal, Bharti Airtel will merge consumer mobile businesses (CMB) of Tata Teleservices Limited and Tata Teleservices Maharashtra. The acquisition is being done on a debt-free and cash-free basis.
Consumer Mobile Business (CMB) of TTSL and TTML will be acquired by Bharti Airtel in 19 circles. Bharti Airtel wants to lead the digital revolution in India by offering world-class and affordable telecom services. Sunil Bharti Mittal, Chairman of Bharti Airtel has ensured seamless integration between two telcos.
The acquisition will strengthen Airtel’s market position. Tata customers will soon be shifted to the Airtel network. In several key areas, Airtel’s will give stiff competition to other telecoms after Tata customers are switched to Airtel’s network. Tata customers will be able to enjoy India’s widest and fastest voice & data network.
According to Mittal, an acquisition of the additional spectrum makes an attractive business proposition. The telecom will create substantial long-term value for shareholders through this acquisition. On Tata’s side, this is the optimal and best-suited choice for the company. Tata Group has not only made the right choice for its shareholders but to also customers using Tata network.
Goldman Sachs India Securities is facilitating the merger transaction. Airtel will also acquire Tata’s fiber-optic network as part of this acquisition. Tata Group is likely to shift most of TTLS employees to Airtel. The company hasn’t announced any update on layoffs and exit plan which was revealed earlier this week.
Courtesy : Techgig
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