Acquisition of Tata Teleservices Ltd.

Bharti Airtel acquires Tata's mobile arm

Question: Which of the following telecom company recently, announced the acquisition of Tata Tele-services Ltd?
(a) Bharti Airtel
(b) Reliance Jio
(c) Idea Cellular
(d) Aircel
Answer: (a)
Related Facts:

  • On October 12, 2017, Bharti Airtel Ltd, the country’s largest telecom company announced the acquisition of Tata Group’s telecommunications company Tata Teleservices Ltd.
  • Under this, from November 1st, 2017, Aritel would acquire 40 million subscribers of Tata Tele-services Ltd. and Tata Tele-services Maharashtra Ltd. across 19 circles.
  • Tata Teleservices Ltd, in the telecom circles from November 1, 2017 to 19 (TTSL) and Tata
  • Teleservices Maharashtra Ltd. (TTML) will have more than 40 million subscribers under Airtel.
  • This acquisition will be based on ‘Debt Free, Cash Free’.
  • This is the 7th acquisition of Airtel in the last five years.
  • Total employees of 19 Circles of TTSL (17) and TTML (2) will also go to Airtel.

Reference:
http://www.thehindu.com/business/Industry/bharti-airtel-to-acquire-tatas-consumer-mobile-business/article19846171.ece
http://indianexpress.com/article/technology/bharti-airtel-acquires-mobile-business-of-tata-teleservices-4887032/