Bharti Airtel is the India’s most famous telecom company; it is going to merge with Telenor India soon. A company statement says that for this proposed merger, it has gets the approval of the National Stock Exchange, Securities and Exchange Board of India (SEBI) and BSE. Airtel and Telenor India have filed the company joint application for approval of the proposed merger to the New Delhi Bench of the National Company Law Tribunal, further added by the Bharti Airtel. The merger also requires other statutory approvals, like from the Competition Commission of India.

Airtel and Telenor Merger Approval received from SEBI, BSE and NSE.

Airtel had announced on February 23, 2017, that it has enrolled into a categorical agreement with Telenor South Asia Investments. Bharti Airtel will acquire the running operations of Telenor India in seven states including Gujarat, Bihar, Andhra Pradesh, Uttar Pradesh East, Maharashtra, Uttar Pradesh West and Assam, according to their scheme. These states contribute about 35% to the Airtel’s total revenue. All along with the announcement of acquisition; it was estimated by the industry sources that the deal will be in a range of Rs 18 billion to Rs 20 billion.

The circles Bharti Airtel have chosen shows highly populated states and that why offer a high potential for growth. The proposed acquisition will include the transfer of all of Telenor India’s customers and assets; furthermore it will bolster Airtel’s overall customer base and network. It will also facilitate Airtel to further boost its strong spectrum in these seven circles, further added in a statement.