CCI Approves Proposed Merger Of Telenor With Bharti Airtel

Bharti Airtel Limited in BSE filing on Tuesday said that the Competition Commission of India (CCI) has approved the proposed merger of Telenor (India) Communications Private Limited with Bharti Airtel Limited.

Bharti Airtel Limited was trading at Rs 367.90, down by Rs 4.45 or 1.20% as at 11.10 on Tuesday, on the BSE. The stock had hit a low of Rs 367.50.

As the debt crisis is widening for the Telecom industry, it is looking for a way out by through such mergers. Earlier this year, Vodafone and Idea created the biggest merger of the industry. Reliance Communications has also recently announced its merger with Aircel, which will be called ‘Aircom’.

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