38.6c New Delhi, India, Saturday, June 22, 2024

Tata Teleservices And Bharti Airtel Merger: Shares of Tata Teleservices Rise By 17 Percent

By LawStreet News Network      10 February, 2020 12:02 PM      0 Comments
Tata Teleservices And Bharti Airtel Merger: Shares of Tata Teleservices Rise By 17 Percent

After the announcement of the merger of Bharti Airtel and Tata Teleservices approved by the Department of Telecommunications (DOT) which is consumer mobile business undertaking of the company into Bharti Airtel Limited, there was a rise in the shares of Tata Teleservices by 17 per cent. The announcement of the merger was made almost a year ago and National Company Administrative Tribunal (NCLAT) approved the order in December 2019. There was a press release made by Tata Teleservices regarding the approval by the Department of Telecommunications (DOT) which says, “The Department of Telecommunications vide their letter dated February 6, 2020, has conveyed approval of the Competent Authority in DoT for taking on record demerger of Consumer Mobile Business Undertaking of the Company into Bharti Airtel Limited in terms of the Composite Scheme of Arrangement between the Company and BAL which was approved by the respective Shareholders and Creditors”

Before the merger was announced by the Bharti India Limited, DoT had asked for a guarantee of Rs. 8,000 crores before taking deal on record. Later, The Disputes Settlement and Appellant Tribunal (TDSAT) gave directions to DoT to accept the merger and take it on record. Bharti Airtel will exercise control over Tata Services’ CMB service in 19 telecom circles- 17 under TTSL and 2 under Tata Services (Maharashtra) Limited and has agreed to take over a small portion of the unpaid spectrum liability of Tata Teleservices. The merger reinforces Airtel’s radio-waves pool with supplementary 178.5 MHz spectrum in 1800, 2100 and 850 MHz bands, widely used for 4G services. Tata Teleservices settled at a value of Rs. 3 and 30-stock Sensex was trading down by 135.96 or 0.31 per cent while Nifty 50 was drooping at 34.85 or 0.29 per cent.


Author: Asif Iqbal

Share this article:

User Avatar

Leave a feedback about this

Trending Judiciary
Gravity of offence not relevant when considering bail for juvenile [Read Order]

Allahabad High Court grants bail to a juvenile in a serious criminal case, ruling that the gravity of the offence is not a relevant factor in bail decisions.

22 June, 2024 11:18 AM
Trending Executive
New Anti-Cheating Law enacted: Analysis

In-depth analysis of India’s new Anti-Cheating Law, the Public Examinations (Prevention of Unfair Means) Act, 2024, aimed at curbing exam malpractices.

22 June, 2024 11:38 AM


Trending Crime, Police And Law
Women, including housewife, approach NCW against controversial IPS officer Gyaneshwar Singh

Two women approach NCW against controversial IPS officer Gyaneshwar Singh, citing harassment for tweets based on news reports about his involvement in high-profile cases.

17 June, 2024 03:10 PM
Trending Judiciary
Courts this Week: Law Street Journal's Weekly Round-Up of SC & HCs [June 10 - June 15]

Get the latest updates from the Supreme Court of India and the High Courts ! Here’s a round up of the week's top legal stories in a quick, easy-to-read summary.

17 June, 2024 03:29 PM
Trending Business
Man sues Apple for £5 million, blaming company for divorce after wife discovers ‘deleted messages’ with sex workers

A UK man sues Apple for £5M, claiming their unclear policy on deleted messages led to his divorce after his wife found texts to sex workers on another device.

17 June, 2024 04:26 PM
Trending Crime, Police And Law
Ex-Karnataka CM Yediyurappa appears before CID for POCSO case probe, with protection of 'no arrest'

Ex-Karnataka CM Yediyurappa appears before CID for POCSO case probe, denies allegations, granted ‘no arrest’ protection. Next hearing: June 28.

17 June, 2024 04:46 PM


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email