Telecom operator Bharti Airtel has received the approval of the Securities and Exchange Board of India (SEBI), BSE and National Stock Exchange of India (NSE) for the proposed merger deal between Airtel and Telenor India.
Telenor India and Airtel have filed the joint company application before the New Delhi Bench of the National Company Law Tribunal for approving the merger. The merger is subject to other statutory approvals including from the Competition Commission of India.
On February 23, 2017, Airtel announced its agreement to acquire Telenor India’s operations in seven circles – Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam. The acquisition will enable Airtel to further bolster its strong spectrum foot-print in seven circles, with the addition of 43.4 MHz spectrum in the 1800 MHz band.
