Airtel gets Sebi and stock exchanges' nod for merger with Telenor

Airtel to take over Telenor's spectrum, licences and operations and customer base of 44 mn

Bharti Airtel today said it has received approvals from market regulator Sebi and stock exchanges (BSE and NSE) for the proposed merger with Telenor India.

The Sunil Bharti Mittal-owned company in February had announced to acquire the business of Telenor India for an undisclosed sum in all seven circles where the latter holds spectrum.

As part of the deal, Airtel would take over Telenor India's spectrum, licences and operations, including its employees and customer base of 44 million.

In a stock exchange filing, Airtel said, "It has received the approval of the Securities and Exchange Board of India (SEBI), BSE Limited (BSE) and