India’s Tata to merge consumer mobile businesses under Bharti Airtel

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SINGAPORE (Oct 13): Indian conglomerate Tata has agreed to combine its Consumer Mobile Businesses (Tata CMB) with Bharti Airtel, which is 14.8% owned by Singapore Telecommunications (SingTel).  

The merger, which is being done on a debt-free cash-free basis, will see over 40 million of Tata CMB’s customers as well as its assets and operations across the country in 19 circles, transfer to Bharti Airtel.

Tata will retain its stake in Viom and take care of the liabilities associated with it, while Bharti Airtel will assume a small portion of the unpaid spectrum liability of Tata’s towards the department of telecom (DoT), which is to be paid on deferred basis... (Click here to read the full story.)