Airtel acquires Telenor Indiaand it's spectrum, now direct fight with Jio - Android Drac | Android News, Apps, Review's and more

Post Top Ad

Thursday, February 23, 2017

Airtel acquires Telenor Indiaand it's spectrum, now direct fight with Jio



Bharti Airtel acquires Telenor's India operations for an undisclosed amount. With the deal, Airtel will get Telenor India's spectrum, licenses, operations and 44 million customers.

Norway's Telenor group has decided to exit the Indian telecom market and sell its business to Bharti Airtel, signalling the growing pressures in the mobile industry following fierce competitive pressures after the entry of Mukesh Ambani's Reliance Jio.

The agreement between the two companies happens at a time when Vodafone and Idea Cellular+ are also engaged in merger discussions to form the country's biggest mobile company.

Sigve Brekke, CEO of the Telenor Group, said that 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."

Telenor had announced its entry into India in 2008.

No comments:

Post a Comment

Post Bottom Ad

Responsive Ads Here