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Tata Tele clutches ‘free’ Airtel lifeline

DNMUM398590 | 10/13/2017 | Author : DNA Money Correspondent | WC :550

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Bharti to acquire consumer mobile business of Tatas on ‘debt-free, cash-free’ basis, narrow gap with Vodafone-Idea combine

New Delhi: Country’s largest telecom service provider Bharti Airtel will acquire consumer mobile business (CMB) of the Tata Group on a ‘debt-free, cash-free’ basis.
The deal will allow Airtel to acquire 40 million subscribers of Tata Teleservices Ltd (TTSL) and Tata Maharashtra Ltd (TTML) across 19 circles, which represent bulk of country’s population and customer base, according to a statement released by both the companies.
The deal will save the Tatas from the prospect of having to shut down the struggling unit.
It will enable Airtel to bolster its strong spectrum holdings with the addition of 178.5 MHz spectrum (of which 71.3 MHz is liberalised) in the 850, 1800 and 2100 MHz bands, which all
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