Top News
DoT gives nod to Airtel-Telenor merger (Lead)
New Delhi, May 14 (IANS) The Department of Telecommunications (DoT) on Monday approved the merger of Bharti Airtel with the Indian unit of Norwegian telecom major Telenor India, a notice said here. Airtel said it will be a seamless transition.
The notification said DoT has transferred all licences and liabilities of Telenor India to Bharti Airtel.
Airtel in a statement said: “All the customers (Telenor) 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.”
The DoT notification said: “The present merger is taken on record without prejudice to the rights, contentions, remedies and steps which may be taken by the Department, in pursuance of any subsequent orders of any orders, judgements and decisions of Hon’ble Courts/Tribunals in related matters” pending in the Bombay High Court, TDSAT and Supreme Court.”
With the completion of this transaction, Airtel’s total mobile customer base in India now stands at over 330 million.
The DoT’s notification came after the Supreme Court last week quashed DoT’s effort to make Bharti Airtel furnish a bank guarantee of Rs 1,499 crore as a pre-condition to approving the Telenor India acquisition.
Bharti Airtel had received the approval of the Securities and Exchange Board of India (SEBI), BSE, National Stock Exchange of India Limited (NSE) and Competition Commission of India for the proposed merger with Telenor (India) in June last year.
Airtel had announced on February 23, 2017 that it has entered into a definitive agreement with Telenor South Asia Investments. As part of the scheme, Airtel will acquire Telenor India’s running operations in seven circles – Andhra Pradesh, Bihar, Maharashtra, Gujarat, Uttar Pradesh (East), Uttar Pradesh (West) and Assam.
“These circles represent a high population concentration and therefore offer a high potential for growth. The proposed acquisition will include transfer of all of Telenor India’s assets and customers, further augmenting Airtel’s overall customer base and network,” the telecom major said in a statement earlier.
With this merger Airtel will now 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 market, the statement said.
“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,” said Gopal Vittal, MD & CEO (India & South Asia), Bharti Airtel.
During the acquisition announcement the deal was estimated to be in the range of Rs 1,800 crore-Rs 2,000 crore by industry sources.
–IANS
ag/bg
Top News
Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.