Question: Under proposed merger between Bharti Airtel’s and the Indian unit of Norway’s Telenor, how many circles in the ongoing operations of Telenor will be acquired by Bharti Aritel?
(a) 4
(b) 5
(c) 7
(d) 11
Answer: (c)
Related Facts:
- On March 8th, 2018, NCLT (National Company Law Tribunal) approved the proposal for Bharti Airtel’s proposed merger with the Indian unit of Norway’s Telenor.
- This deal has already been approved by the Indian Competitive Commission, the Securities and Exchange Board of India (SEBI), the Bombay Stock Exchange and the National Stock Exchange.
- Under this, Bharti Airtel will acquire seven circles in the ongoing operations of Telenor in Andhra Pradesh, Bihar, Maharashtra, Gujarat, Uttar Pradesh (East), Uttar Pradesh (West) and Assam, which will give it additional spectrum.
- Under merger all the customers of Telenor company’s and its all the assets will now of Bharti Airtel.
- It is known that this merger has not yet received the approval of the Department of Telecommunications.
- The merger agreement between the two companies had taken place in February, 2017.
Reference:
https://economictimes.indiatimes.com/news/economy/policy/nclt-approves-airtel-telenor-merger/articleshow/63220371.cms
https://telecom.economictimes.indiatimes.com/news/nclt-clears-bharti-airtels-buyout-of-telenor/63220929
http://www.livemint.com/Industry/p38iFsQEKmSFlFsVlgJtQI/Airtel-Telenor-merger-approved-by-NCLT.html
http://www.business-standard.com/article/companies/airtel-telenor-merger-approved-by-nclt-airtel-to-get-ops-in-7-circles-118030800885_1.html