The acquisition of Telenor India by Bharti Airtel may realise soon as the deal has got no objection from the telecom department (DoT); now the proposal is before the National Company Law Tribunal (NCLT). Post NCLT’s clearance, the two companies will require also a formal approval from the telecom department to close the deal.
In October 2017, Tata Teleservices Limited (TTSL)had split from the Japanese telco NTT DoCoMo, and then it decided to merge Telenor with Bharti Airtel to compensate the losses.
The Department of Telecommunications gave its affidavit to the NCLT; it said that Airtel would have to submit two bank guarantees totalling about ₹1,700 crore to the government over spectrum payments.It also laid out details of the money owed by both companies, but most of its demands for payment have been stayed by courts.
The Department of Telecommunications gave its affidavit to the NCLT; it said that Airtel would have to submit two bank guarantees totalling about ₹1,700 crore to the government over spectrum payments.It also laid out details of the money owed by both companies, but most of its demands for payment have been stayed by courts.
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