Sunday, 17 December, 2017

Tata and Bharti to Combine Consumer Telecom Business

Tata and Bharti to Combine Consumer Telecom Business Tata and Bharti to Combine Consumer Telecom Business
Kristine Garrett | 12 October, 2017, 18:14

"This is a significant development towards further consolidation in the Indian mobile industry and reinforces our commitment to lead India's digital revolution by offering world-class and affordable telecom services through a robust technology and solid spectrum portfolio".

Bharti Airtel will acquire Tata Group's loss-making mobile telephony business, nearly for free, boosting its spectrum holding and raising subscriber base while saving the Tatas from the prospect of having to shut down the struggling unit.

Airtel is set to loose its numero-uno position in the country's telecom space that it has been holding for more than one and half decade with the Vodafone-Idea merger.

According to the deal, Bharti Airtel will also overtake a part of Tata Teleservices's spectrum liability, which is expected to be worth INR 10,000 crores.

Additional spectrum in 1800, 2100, and 850 MHz bands will be added to Airtel's pool and further help the operator strengthen its 4G network.

Bharti Airtel will also assume a small portion of the unpaid spectrum liability of Tata.

"The proposed merger will include transfer of all the customers and assets of Tata CMB to Bharti Airtel, further augmenting Bharti Airtel?s overall customer base and network", the statement said.

The Bharti Board, which met on Thursday afternoon, has approved this transaction. The latest announcement will see over 4 crore Tata customers join Bharti Airtel.

"We believe today's agreement is the best and most optimal solution for the Tata Group and its stakeholders", said N Chandrasekaran, chairman, Tata Sons. Finding the right home for our longstanding customers and our employees has been the priority for us.

The statement also said Tata is in the initial stages of exploring a combination of its enterprise business with Tata Communications Ltd and its retail fixed-line and broadband business with satellite TV arm Tata Sky.

As part of the deal, Tata's mobile customers in 19 service areas will move to Bharti Airtel along with airwaves that Tata had purchased.

A Bharti Airtel office building is pictured in Gurugram, previously known as Gurgaon, on the outskirts of New Delhi, India April 21, 2016.

Goldman Sachs (India) Securities Private Limited is financial adviser to Tata.

"We have evaluated multiple options and are pleased to have this agreement with Bharti", he added.

Recommended

  • Regentatlantic Capital LLC Buys 3283 Shares of Johnson & Johnson (JNJ)

    Regentatlantic Capital LLC Buys 3283 Shares of Johnson & Johnson (JNJ)

    Sentry Corp reported 86,300 shares stake. (NASDAQ:OREX) earned " rating by RBC Capital Markets on Tuesday, September 15. The company reported $1.83 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $1.79 by $0.04.

    Core MSCI EAFE Ishares (IEFA): Tracking the Technicals

    Williams %R is a popular technical indicator created by Larry Williams to help identify overbought and oversold situations. A certain stock may be considered to be on an uptrend if trading above a moving average and the average is sloping upward.

    Astronomers have discovered a dwarf planet in the Solar system ring

    Scientists said that they would put another eye over Chariklo and Chiron, located between Saturn and Uranus. Considering that Neptune is usually about 30 Astronomical Units (UN), Haumea could get close to the Sun.
  • Sentiment Change Report: Alaska Air Group Inc (NYSE:ALK)

    The investment managers in our partner's database now hold: 106.39 million shares, down from 109.97 million shares in 2017Q1. Cypress Capital Management LLC (wy) expanded its investment by buying 525 shares an increase of 18.3% in the quarter.
    Southwest Airlines makes it official: Hawaii service on the way

    Southwest Airlines makes it official: Hawaii service on the way

    Travelers have wanted Southwest to offer flights to Hawaii for years, and Kelly said it's one of the top questions from employees. The Dallas airline began to fly outside the U.S.in 2014 when it took over flights to the Caribbean from its subsidiary AirTrans.

    Biogen Inc. (NASDAQ:BIIB) Trading Down - Short Interest Up 14.46%

    New York-based Amalgamated Bancshares has invested 0.22% in Biogen Inc (NASDAQ:BIIB). 3,106 are held by Trust Comm Of Vermont. Opus Point Partners Management Llc sold 5,627 shares as the company's stock declined 13.45% while stock markets rallied.
  • US Plans To Withdraw From 'Anti-Israel' UNESCO

    US Plans To Withdraw From 'Anti-Israel' UNESCO

    A representative of the USA delegation to UNESCO referred Reuters to the State Department. UNESCO said the withdrawal was a loss to the "UN family" and to multilateralism.
    Joe Namath disagrees with Mike Ditka's comments about oppression

    Joe Namath disagrees with Mike Ditka's comments about oppression

    That has never had anything to do with anything. "There has been no oppression in the last 100 years that I know of", Ditka said. Jesse Owens is one of the classiest individuals that ever lived. "Is everything based on color?" I don't see it that way.
    Family held hostage by Taliban rescued after 5 years

    Family held hostage by Taliban rescued after 5 years

    Boyle, 34, and Coleman, 31, were kidnapped by the Taliban-linked Haqqani network in October 2012. A video released by the Taliban past year had showed the family, including two young boys.
  • Fast & Furious row continues over new spin-off movie

    Fast & Furious row continues over new spin-off movie

    In the caption, Tyrese calls The Rock a "hater", and refers to his project as one of the best RNB slash soul albums of all time. Gibson bizarrely tries to tell the man who he is taking to the airport: "I need to stop at a auto wash, my vehicle is dirty".
    Lawmaker slams removal of flags from Russian diplomatic missions in US

    Lawmaker slams removal of flags from Russian diplomatic missions in US

    The Russian Mission to the U.S. released photos of the closed diplomatic facility without Russian state flags on Wednesday.
    Woman, 99, Escapes Home Invasion; Husband Dies

    Woman, 99, Escapes Home Invasion; Husband Dies

    Officials say the 100-year-old was treated on the scene for superficial marks around her legs consistent with being tied up. Sources told News 4 the burglars may have beaten him, but the nature of his deadly injuries wasn't clear.

Chesapeake Energy Corporation (CHK) Cut to Underperform at Jefferies Group LLC Chesapeake Energy Corporation (CHK) Cut to Underperform at Jefferies Group LLC EPE has a net profit margin of -21.90% and is less profitable than the average company in the Independent Oil & Gas industry. The company reported the earnings of $0.18/Share in the last quarter where the estimated EPS by analysts was $0.15/share.

Iden Versio Receives The Emperor's Orders In Star Wars Battlefront II Cutscene Iden Versio Receives The Emperor's Orders In Star Wars Battlefront II Cutscene Do you plan on playing the Star Wars Battlefront 2 beta? Though it clearly really depends on how great at multiplayer you are. And Battlefront fans yearn for a game to deliver the gameplay they remember so fondly from the original Battlefront II .

Canadian National Railway Company (CNR) Given Average Rating of "Buy" by Brokerages Integral Derivatives Llc has invested 0.01% of its portfolio in Weatherford International Plc (NYSE:WFT). (NASDAQ:IDCC). Canadian Pacific Railway Limited now has a consensus rating of "Buy" and an average target price of C$215.38.

Philippine police kill 145 key suspects in drug war Philippine police kill 145 key suspects in drug war Madrid said police officers may still make arrests if the illegal drug transaction is happening in front of them. Abella said the PDEA would now elevate the campaign against illegal drugs as it has widened its scope.

Snap Inc. (SNAP) Earns Buy Rating from Royal Bank Of Canada The new features come as Snapchat tries to remain relevant and fight off competition from Facebook Inc. Seven Bridges Advisors LLC purchased a new stake in Snap in the 2nd quarter valued at about $101,000.

Sweden Inflation Remains Stable In September Sweden Inflation Remains Stable In September The data revealed the overall food inflation moderated to 1.25 per cent in September from 1.67 per cent in the previous month. Retail or consumer inflation rose at lower-than-expected 3.28 per cent in September, unchanged from August.

Ireland approves massive Apple data centre Ireland approves massive Apple data centre However, three objectors subsequently asked the fast track Commercial Court division of the High Court to review the decision. Construction of the first phase promised to generate 300 temporary jobs, with 100 permanent staff required to run it.

Dawson's Creek star reveals he was sexually assaulted Dawson's Creek star reveals he was sexually assaulted In the wake of Harvey Weinstein's controversy, more and more celebrities have opened up about their sexual harassment experiences. Crews said he decided not to physically attack the man because of "how the whole thing would appear".

What Analysts Think of Ichor (ICHR)? More recent Ichor Holdings Ltd (NASDAQ: ICHR ) news were published by: Fool.com which released: "Why Ichor Holdings Ltd ". COPYRIGHT VIOLATION NOTICE: This article was first posted by Week Herald and is the sole property of of Week Herald.

Bunkering Resumes in Durban Following Severe Weather Bunkering Resumes in Durban Following Severe Weather Motlohi could not estimate when the port would be opened again but said it is unlikely it will open on Wednesday. The Business Continuity Plan (BCP) will remain in place until TNPA has restored normality at the Port of Durban .

Betting On Northern Dynasty Minerals Ltd. (NYSE:NAK) ? Investors look at the Volatility 12m to determine if a company has a low volatility percentage or not over the course of a year. The Firm has ATR of 0.11 that is explaining range of a day's trading is high-low; ATR expands it to yesterday's closing price.

Domino's shares slip as same-store sales growth slows William Blair Investment Management LLC bought a new stake in shares of Domino's Pizza during the 2nd quarter worth $113,818,000. The firm had revenue of $628.61 million for the quarter, compared to the consensus estimate of $609.87 million.

This actress to star opposite Hrithik, Tiger Shroff in Siddharth Anand's next This actress to star opposite Hrithik, Tiger Shroff in Siddharth Anand's next Siddharth was thoroughly thrilled by Vaani in her previous projects, therefore chose to get her on board. He also said that he was looking for a young and fresh face for this movie and then he found Vaani.

Police searching for missing child, person of interest in OH triple murder Police searching for missing child, person of interest in OH  triple murder The National Center for Missing and Exploited Children has been contacted and is assisting the LCSO in the search for this child. Upon arrival Deputies found three adults inside a house trailer deceased from apparent gunshot wounds.

South Korea Says No Sign of North Korean Missile Launch Yet South Korea Says No Sign of North Korean Missile Launch Yet The B-1Bs also conducted exercises with Japan's Air Force in what the USA statement called a "sequenced bilateral mission". It did not say when the Hawaii-based submarine with a crew of around 150 would depart the peninsula.