The Airtel-Tata Tele deal comes at a time when the telecom sector is in a consolidation mode as major players seek to cement their position. Photo: PTINew Delhi: Bharti Airtel Ltd’s proposed acquisition of consumer mobile business of Tata Teleservices Ltd and Tata Teleservices (Maharashtra) Ltd has been approved, according to the latest update on the Competition Commission of India’s (CCI) website. An Airtel spokesperson declined to comment on the CCI approval for the Tata Tele acquisition. The Airtel-Tata Tele deal now needs the approval of Securities and Exchange Board of India (Sebi), National Company Law Tribunal (NCLT), stock exchanges, and the telecom department, among others. The Tata Tele deal is Airtel’s seventh acquisition in five years.

Source: Mint November 16, 2017 15:33 UTC