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India: CCI approves Airtel-Telenor merger

By  |  June 6, 2017

Bharti Airtel on Tuesday said the Competition Commission of India (CCI) has approved its proposed merger with Telenor India.

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    Last week, Bharti Airtel and Telenor India filed a joint application before the National Company Law Tribunal for approval of their merger after receiving nod from market regulator, Sebi, and stock exchanges, BSE and NSE.

    “We wish to inform you that the Competition Commission of India (CCI) vide its letter dated June 5, 2017 has approved the proposed merger of Telenor (India) Communications with Bharti Airtel,” the company said in a BSE filing.

    Airtel and Telenor signed the agreement for merger on February 2017 under which Airtel will acquire Telenor India’s running operations in seven circles — Andhra Pradesh, Bihar, Maharashtra, Gujarat, Uttar Pradesh (East), Uttar Pradesh (West) and Assam.

    Full Content: The Hindu

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