DoT order on Airtel, Tata Tele merger

New Delhi: The Department of Telecom has given approval for the merger of Tata Teleservices with Airtel subject to the condition that the Sunil Bharti Mittalled firm furnishes Rs 7200 crore worth bank guarantee a government official said

Updated At : 01:34 PM Apr 12, 2019 IST

New Delhi: The Department of Telecom has given approval for the merger of Tata Teleservices with Airtel, subject to the condition that the Sunil Bharti Mittal-led firm furnishes Rs 7,200 crore worth bank guarantee, a government official said. On April 9, Telecom Minister Manoj Sinha gave a conditional nod for the merger, the official said. Subsequent to the minister’s approval, the official said the DoT has asked Airtel to furnish a bank guarantee worth Rs 7,200 crore. “Both companies also need to submit undertaking on matter related to court cases before merger is taken on record,” the official said. PTI