New Delhi: The consumer mobile business of Tata Teleservices has now become part of telecom operator Bharti Airtel, the two companies said on Monday. Airtel stocks closed marginally up following the announcement.
The consumer mobile businesses of Tata Teleservices Limited (TTSL) and Tata Teleservices (Maharashtra) Limited (TTML) have been merged into Bharti Airtel Limited and Bharti Hexacom Limited (Airtel) from July 1, Airtel had said in a statement issued.
“Following the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) order directing the Department of Telecommunications (DoT) to take on record the merger and the schemes of arrangement by the National Company Law Tribunal (NCLT), Delhi and NCLT, Mumbai, we are pleased to announce that the schemes of arrangement have become effective today — July 1, 2019. Consequently, all customers, assets, spectrum and agreed liabilities of the Consumer Mobile Businesses of TTSL and TTML now stand merged with Airtel,” it added. (IANS)
