airtel
40 million
What is it? The number of subscribers Bharti Airtel would acquire once it gets regulatory approvals to acquire the consumer mobile businesses of Tata Teleservices and Tata Teleservices Maharashtra. The two groups announced the merger of their businesses on Thursday.
Why is it important? This is a major step towards further consolidation in the telecom sector, which is beset with many problems, including a cumulative debt of Rs4,85,000 crore and Rs3,00,000 crore dues in spectrum payment charges, an escalating pricing war in recent months, decreasing margins and the possibility of job losses.
Tell me more: Earlier this year, Airtel announced its decision to acquire Telenor ASA’s India business while the merger of Vodafone India and Idea Cellular is expected to be completed by 2018.
