Bharti Airtel, India's leading telecom operator is in talks with the Norway-based telecom operator Telenor India to acquire the Telenor India business for $350 million. The news about this has been reported by ET Now on Monday which also said that the deal will be closed by January end.
Bharti Airtel is in talks to acquire half Telenor business and the rest half would bear with Telenor itself. The settlement would be made in cash or share transfer.
Telenor is in thoughts to exit from Indian Telecom market after it divorced with Unitech to change the business name to Telenor from Uninor. Telenor has been suffering from heavy losses since the launch. Telenor currently owes Rs 3700 crores debt to be paid to Government against the spectrum and other financial institutions.
Telenor initially had talks with Idea Cellular for cashless settlement which later failed for unknown reasons.
Telenor, formerly Uninor was the first telecom company to offer dynamic pricing which offers 5% to 70% discount on call charge. Telenor is also the first company to offer Life Insurance with every recharge.
Telenor currently has operations in 6 telecom circles - AP& Telangana, Uttar Pradesh East and West, Bihar, Gujarat and Maharastra. Telenor also holds 4G spectrum license in seven telecom circles.
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