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India: Airtel-Tata Tele deal gets CCI approval

By  |  November 16, 2017

Bharti Airtel’s proposed acquisition of consumer mobile business of Tata Teleservices and Tata Teleservices (Maharashtra) has been approved, according to the latest update on the Competition Commission of India’s website.

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    The deal comes at a time when the telecom sector, bruised by tariff war and mounting losses, is in a consolidation mode as major players seek to cement their position.

    The Airtel-Tata Tele deal now needs the approval of Securities and Exchange Board of India (Sebi), National Company Law Tribunal, stock exchanges, and the telecom department, among others.

    The Tata Tele deal is Airtel’s seventh acquisition in five years. Last month, Airtel had announced the acquisition of Tata Group’s mobile telephony business, almost for free, in a move that would boost its spectrum holding and raise its subscriber base while saving the Tatas from the prospect of having to shut down the struggling unit.

    Full Content: DNA India

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