Bharti Airtel, Telenor India get SEBI nod for merger
DSIJ Intelligence / 02 Jun 2017
On Thursday, Bharti Airtel received the approvals of SEBI and Stock Exchange for the proposed merger with Telenor India. Both telecommunication service provider company has filed a joint application before National Company Law Tribunal.
On Thursday, Bharti Airtel received the approvals of SEBI and Stock Exchange for the proposed merger with Telenor India. Both telecommunication service provider company has filed a joint application before National Company Law Tribunal.
On February 2017, both Airtel- Telenor entered into an agreement of the merger. And as a part of their contract the India’s largest telecommunication service provider Bharti Airtel will acquire the Telenor India’s spectrum, licences, along with its operation in seven circles (Andhra Pradesh, Bihar, Maharashtra, Gujrat, UP(East), UP(West), and Assam) including its employees and customer base of 44 million.
Market observers think that this deal would strengthen Bharti Airtel's footprint in the telecom market and it will likely to boost Airtel’s 4G spectrum holdings and revenue market share and it might help the company to compete with Reliance Jio Infocomm Ltd.
On June 2, 2017, Bharti Airtel was trading at Rs 378.95, up by 3.21 per cent on BSE at 10:05 hours. It opened at Rs 373.20 while on Thursday it closed at Rs 367.15.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.