DOT approves Telenor India sale

TelenorTelenor headquarters.Photo: Norway Today media

Yesterday, May 14, the Department of Telecom approved the merger of Telenor India with Bharti Airtel; a merger that will expand the subscriber base of Airtel to almost double its current size.

 

Hegnar newspaper reports that February 2017, Norwegian company Telenor entered an agreement with Bharti Airtel, with Airtel taking Telenor India. Airtel is India’s largest mobile company and will aquire 44 million Telenor customers with the merger.

Telenor’s Airtel agreement ends Indian business for the Norwegian Telenor.

Said a statement from Airtel; “We welcome all Telenor customers to the Airtel family and look forward to delighting them with best-in-class products.The acquisition consolidates our market leadership, further strengthens our network portfolio in key markets and will add to shareholder value.”

Telenor’s wholly owned Norwegian mobile operation is Norway’s leading telecommunications operator, with almost 3 million mobile subscriptions and employing almost 4,000 workers.

2017 saw Telenor revenue at NOK 25.9 billion.

 

© NTB Scanpix / #Norway Today

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