Bharti Airtel to acquire Telenor India

Bharti Airtel is going to acquire Telenor India, which has operations in seven circles.

These seven circles in Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam represent a high population concentration, which will immensely benefit Airtel.

The acquisition will include transfer of all of Telenor India’s assets and customers, further augmenting Airtel’s overall customer base and network. It will also enable Airtel to further bolster its strong spectrum foot-print in these seven circles, with the addition of 43.4 MHz spectrum in the 1800 MHz band.

In return, Airtel will ensure quality services to Telenor India’s customers, while offering them the added benefits of its innovative product portfolio, access to superior voice & data services, mobile banking, VAS and domestic/ international roaming facilities. Telenor India’s operations and services will continue as normal until the completion of the transaction.

Gopal Vittal, Managing Director and CEO (India and South Asia), Bharti Airtel, said, “The agreement underlines our commitment to lead India’s digital revolution by offering world-class and affordable telecom services through a robust spectrum portfolio spread across multiple bands..”

“The acquisition of additional spectrum through this transaction, which made an attractive business proposition, has further enhanced our already solid spectrum portfolio. The proposed transaction will also create substantial long term value for our shareholders given the significant synergies.” added Gopal.

Sigve Brekke, Chief Executive Officer of Telenor Group, said, “The decision to exit India has not been taken lightly. 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.”