DoT has approved the merger of the consumer mobile operations of the Tata Teleservices with Bharti Airtel.
Nod of Approval
The Department of Telecommunications (DoT) has approved the merger of the consumer mobile operations of the Tata Teleservices with Bharti Airtel.
This final approval comes over two years after the companies had announced their plan to merge businesses.
In October 2017, the Tata Group had announced that it would sell its consumer mobile business to Bharti Airtel on a debt-free, cash-free basis, except for it assuming a fraction of the unpaid spectrum fees that the Tata Group owes to the DoT. [Moneycontrol]
India’s largest private steel company, Tata Steel is expected to announce its Q3 earnings today. While Tata Steel reported a 17% sequential growth and 24% year-on-year rise in domestic steel sales in Q3, it remains to be seen whether realisations have kept pace. [Livemint]
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