Bharti Airtel to acquire wireless mobile business from Tata Teleservices
Posted on: 12/Oct/2017 5:51:27 PM
A solution for Tata’s loss making and highly leveraged telecom business is identified now by Tata’s new boss N Chandrasekaran. This is arrived after 4 months of initiating discussions with Bharti Enterprise. The wireless mobile business of TATA that has BSE 9.95 percent is to get sold to Bharti Airtel BSE - 0.83 percent, say reliable sources.
For a few considerations, the business and its 4 crore customers will be transferred cash-free and debt-free.
Furthermore, Rs 10,000 crore spectrum liability off Tata will also be taken. In 19 circles, Tata Teleservices has got 180 MHz spectrums spread in 800, 1800, 2100 Mhz bands. Further, Bharti will also be signing IRU agreement with Tata Teleservices so as to gain access to its fibre optic services.
To discuss about this proposal, Bharti is making discussions and an announcement is likely this evening. There is no response from the end of Bharti Airtel and Tata though.
On either sides, group watchers believe this to be the starting point of a strategic alliance between the two telecom providers, overseas cable and enterprise services, and direct to home TV businesses.
Unlike the popular belief, there is a solution to the permanent home for the telecom rather than finding an end to the business, said an official. For a few months, the talks have been on the go to discover the possibilities of partnership. Though it got stalled in between, it is now revived. Either sides showed interest in getting into a deeper alliance.
