Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
»
1-min read

Airtel Completes Merger of Tata Teleservices' Consumer Mobile Business

The schemes of arrangement regarding the merger of the consumer mobile businesses of Tata Teleservices and Tata Teleservices (Maharashtra) into Bharti Airtel and Bharti Hexacom (Airtel) have become effective from July 1, 2019.

PTI

Updated:July 1, 2019, 8:31 PM IST
facebookTwitterskypewhatsapp
Airtel Completes Merger of Tata Teleservices' Consumer Mobile Business
Image for Representation (Reuters)
Loading...

New Delhi: Consumer mobile business of Tata Teleservices Ltd (TTSL) has now become part of telecom operator Bharti Airtel, according to a joint statement issued by the two companies on Monday.

The schemes of arrangement regarding the merger of the consumer mobile businesses of Tata Teleservices and Tata Teleservices (Maharashtra) into Bharti Airtel and Bharti Hexacom (Airtel) have become effective from July 1, 2019, it said.

The Telecom Disputes Settlement and Appellate Tribunal had ordered the Department of Telecommunications to take on record the merger and approval of the schemes of arrangement by Delhi and Mumbai bench of the National Company Law Tribunal.

"Consequently, all customers, assets, spectrum and agreed liabilities of the consumer mobile businesses (CMB) of TTSL and TTML [Tata Teleservices (Maharashtra) Ltd] now stand merged with Airtel," the statement said.

According to the regulatory filing by both the groups, shareholders in TTML, which is a listed entity, will get one equity share of Airtel for every 2,014 equity shares held by them in the company as on record date of July 12, 2019.

TTML shareholders holding fully paid-up, redeemable preference shares will get 10 fully paid-up redeemable, non-participating, non-cumulative preference shares of a face value of Rs 100 of Airtel.

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) Ltd. It also agreed to take over a small portion of the unpaid spectrum liability of Tata Teleservices.

The merger will bolster Airtel's spectrum pool with significant additional 178.5 MHz spectrum in 1800, 2100 and 850 MHz bands, widely used for 4G.

The merger includes transfer of all the customers and assets of Tata Teleservices' CMB to Airtel.

Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 91.15 9.49
Reliance 1,280.50 2.52
HDFC Bank 2,297.25 -3.30
Bajaj Finance 3,246.60 -2.30
Interglobe Avi 1,519.20 3.84
Company Price Change %Gain
Yes Bank 91.15 9.49
Reliance 1,280.50 2.52
Interglobe Avi 1,518.15 3.74
HDFC Bank 2,297.05 -3.32
Bajaj Finance 3,248.55 -2.21
Top Gainers
Company Price Change %Gain
Yes Bank 91.15 9.49
Vedanta 167.25 3.72
Indiabulls Hsg 655.90 3.30
Hindalco 202.40 3.27
Zee Entertain 364.05 3.14
Company Price Change %Gain
Yes Bank 91.15 9.49
Vedanta 167.25 3.85
Asian Paints 1,403.35 2.58
Reliance 1,280.50 2.52
Maruti Suzuki 5,912.00 2.48
Top Losers
Company Price Change %Gain
Bajaj Finserv 7,162.45 -5.34
HDFC 2,186.90 -5.06
Eicher Motors 17,072.00 -3.35
HDFC Bank 2,297.25 -3.30
Kotak Mahindra 1,454.30 -2.98
Company Price Change %Gain
HDFC 2,186.60 -5.09
HDFC Bank 2,297.05 -3.32
Kotak Mahindra 1,453.65 -3.08
HUL 1,678.75 -2.67
Bajaj Finance 3,248.55 -2.21

Live TV

Loading...
Countdown To Elections Results
To Assembly Elections 2018 Results