Airtel Completes Merger Of Tata Teleservices’ Consumer Mobile Business With Itself
The consumer mobile business of Tata Teleservices Ltd. has now become a part of Bharti Airtel Ltd., according to a joint statement issued by the two companies on Monday.
The schemes of arrangement regarding the Airtel-Tata Tele merger have become effective from July 1, 2019, it said. According to the deal, consumer mobile businesses of Tata Teleservices and Tata Teleservices (Maharashtra) Ltd. were merged with Bharti Airtel and Bharti Hexacom.
Telecom tribunal TDSAT had ordered the Department of Telecom to take on record the merger and approval of the schemes of arrangement by Delhi and Mumbai bench of National Company Law Tribunal. "Consequently, all customers, assets, spectrum and agreed liabilities of the Consumer Mobile Businesses of TTSL and TTML now stand merged with Airtel," the statement said.
As part of the merger, Airtel will absorb Tata Teleservices' CMB operations in 19 telecom circles -- 17 under TTSL and 2 under Tata Teleservices (Maharashtra). It also agreed to take over a small portion of the unpaid spectrum liability of Tata Teleservices.
The Airtel-Tata Teleservices merger will bolster Airtel's spectrum pool with significant additional 178.5 MHz spectrum in 1,800, 2,100 and 850 MHz bands, widely used for 4G. The merger includes transfer of all the customers and assets of Tata Teleservices CMB to Airtel.