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Airtel to buy Telenar
Posted on: 23/Feb/2017 6:53:34 PM
After the stormy and sensational entry of Reliance Jio in their trade, all the other major telecom mobile service providers such as Airtel and Vodafone have been taking some major initiatives and actions to sustain the business.
Presently, Airtel has announced that is buying Telenar, another telecom service provider.
A press release in this regard by Airtel informs that Airtel has signed a contract to buy the Indian shares of Telenar.
Telenar has been operating in 7 places in India including Andhra, Bihar, Maharashtra, Uttar Pradesh, and East and West Assam. Airtel is sweet to buy Telenar’s business in these 7 sectors.
With this purchase, all Telenar’s assets in these 7 sectors, including the equipment like towers, etc., and the employees will belong to Airtel. However, the details of the contract amount are yet to be released.
It is worth noting at this juncture that there was a strong information in the known circles that Vodafone was about to buy Idea, another major competitor in the mobile service sector.
