MUMBAI: The Competition Commission of India (CCI), vide its letter of 5 June 2017, has approved the proposed merger of Telenor (India) Communications Private Limited with Bharti Airtel Limited.
Telenor India and Airtel had on 1 June filed the joint company application before the New Delhi bench of the National Company Law Tribunal for approval of the proposed scheme of merger.
Airtel recently stated that it has received the merger approval from Securities and Exchange Board of India (SEBI), National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange (BSE).
The Sunil Bharthi Mittal owned company entered into a deal with Telenor South Asia Investments to buy Telenor India’s operations in Andhra Pradesh, Maharashtra, Gujarat, Bihar, UP (East), Assam, and UP (West). These seven circles provide about 35 per cent to Airtel’s total revenue. Airtel will also get on some of the Nordic telco’s political liabilities.
