Saturday, February 25, 2017

Bharti Airtel to acquire Telenor group

Bharti Airtel has acquired Norway's Telenor group. Telenor has a customer base of 44 million, and has operations in seven circles - Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam.

Airtel said, The proposed 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.

Read: Apple acquires Israeli based artificial intelligence startup RealFace

Airtel CEO Gopal Vittal said The customers of Telenor India will now be able to enjoy India's widest and fastest voice & data network, and a range of Airtel's world-class products and services.

Sigve Brekke, CEO of the Telenor Group said, 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. Finding a long-term solution to our India business has been a priority for us, and we are pleased with our agreement.



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