Bharti Airtel will soon acquire Telenor Communications Private Limited, better known as Telenor India. The company made the announcement today.
Airtel to acquire 7 circles of Telenor India
According to the acquisition agreement, Airtel will get seven of Telnor’s operation circles namely Andhra Pradesh, Bihar, Maharashtra, Gujarat, East Uttar Pradesh, West Uttar Pradesh, and Assam. All these regions are densely populated, and so Airtel hopes to seize the high growth potential in these areas.
Transfer of assets.
After the acquisition, Telneor will transfer all of its assets and customers to Airtel. With a boost in its user base, Airtel will enjoy an additional 43.4 MHz spectrum in the 1800 MHz band.
Apart from Airtel’s wide range of benefits like mobile baking, international roaming facilities, and dynamic voice and data services. Aside from these benefits, the company has also promised to offer high quality services to all customers transferring from Telenor through this acquisition.
Speaking about the acquisition,
“Finding a long term solution to our India business has been a priority for us. After thorough consideration, it is our view that the significant investments needed to secure Telenor India’s future business on a standalone basis will not give an acceptable level of return.”
Said Sigve Brekke, Chief Executive Officer, Telenor Group.
Both companies are still working out the details of the acquisition, and until definite plans emerge, Telenor India will continue operations as usual.