Telecommunications services provider Airtel and Telenor South Asia Investments Pte Ltd has announced the completion of their transaction, wherein, the former has acquired the operations of Telenor India.
The transaction has received all regulatory and statutory approvals. As a next step, Airtel will begin integrating Telenor India’s operations across seven circles – Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam.
All existing customers of Telenor India will now become a part of India’s largest mobile network and will enjoy world-class services – high speed data, voice and content – at affordable prices, Airtel said in a statement. All the customers will be transitioned seamlessly to the Airtel network and will continue to enjoy uninterrupted services with the same SIM, same number, and same plan/pack benefits.
With the completion of this transaction, Airtel’s total mobile customer base in India now stands at over 330 million, further cementing its leadership position.
Airtel will add 5 MHz to 7.2 MHz of Telenor’s spectrum (1800 band) in each of the seven circles. The addition of this fresh spectrum (total of 43.4 MHz) will enable Airtel to further expand network capacity across these markets and fortify its network leadership. Airtel plans to step up investments and aggressively expand its high speed data network across the country over the coming year as part of Project Leap, its network transformation program.
Gopal Vittal, MD & CEO (India & South Asia), said, “We welcome all Telenor customers to the Airtel family and look forward to delighting them with best-in-class products. The acquisition consolidates our market leadership, further strengthens our network portfolio in key markets and will add to shareholder value. We would like to thank all the concerned authorities and stakeholders for granting approvals to this transaction.”
“I welcome today’s closing of the transaction. We are pleased with our agreement with Airtel and finding a long term solution to our India business has been a priority for us. I would like to thank the Telenor India team for their relentless and unwavering efforts over the years. To our customers, I would like to thank you for your loyalty and trust in our services,” said Sigve Brekke, Chief Executive Officer of Telenor Group.