NCLT approves Airtel-Telenor merger

The National Company Law Tribunal (NCLT) on Thursday approved Bharti Airtel’s proposed merger with the Indian unit of Norway’s Telenor.

A senior Airtel executive confirmed the same.

Bharti Airtel had entered into an agreement with Telenor South Asia Investments Pte back in February last year to buy Telenor India’s operations in Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam. These seven circles contribute about 35% to Airtel’s total revenue. Airtel will also take on some of the Scandinavian telco’s local liabilities.


Acquisition of Telenor India will bolster Airtel’s 4G spectrum holdings and revenue market share, reinforcing its hand in the battle against Reliance Jio Infocomm. Airtel will pocket 43.4 units of 4G spectrum in the 1800 MHz band once the Telenor deal is concluded.

Bharti Airtel’s proposed merger with Telenor India has already been cleared by the country’s antitrust regulator, Competition Commission of India (CCI), market regulator Sebi and stock exchanges, BSE and NSE. It is now awaiting approval of the telecom department (DoT).

Airtel will also take over Telenor India’s outstanding spectrum payments of some Rs 1,650 crore and other operational contracts, including tower leases with Bharti Infratel and Indus Towers, besides employees and 44 million customers.

Airtel had said that the Telenor circles represent a high population concentration and therefore offer a high potential for growth.

Telenor had a rough ride ever since it rolled out operations in late 2009 in partnership with real estate company Unitech under the Uninor brand. Although it won licences to offer nationwide services, all of them were cancelled in the judgment on the 2G scam five years ago.