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Bharti Airtel shareholders approve merger with mobile business of Tata Teleservices (Maharashtra)

August 06, 2018

The shareholders of Bharti Airtel have approved its merger with the mobile business of Tata Teleservices Maharashtra (TTML). The merger was approved with over 99 per cent votes.

The merger deal was announced last year and is on a no-cash, no-debt basis, which implies that Airtel would not be responsible for the debt of TTML amounting to Rs 400 billion.

Moreover, the deal would involve over 40 million customers of Tata Teleservices (TTSL) and TTML joining Bharti Airtel.

 
 

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