Telenor refuses to comment on Bharti Airtel deal report

News Wireless India 2 JAN 2017
Telenor refuses to comment on Bharti Airtel deal report

Telenor has declined to comment on a report tweeted by the Economic Times of India that Bharti Airtel is considering buying Telenor’s Indian arm for USD 350 million, according to newspaper Dagens Naeringsliv's website. A deal between Bharti and Telenor is expected before the end of January, it said. DN.no cited Telenor communications director Glenn Mandelid as saying that the Norwegian operator has a principle of not commenting on speculation or rumours circulating in the market about its plans.

DN.no said that Norwegian news agency TDN Finans had cited its own sources as saying that Bharti Airtel would probably be interested in taking over half of Telenor’s Indian obligations, with Telenor bearing the rest. Telenor owns the Indian government NOK 2.5 billion in licence fees, and owe approximately NOK 2.2 billion to financial institutions, DN cited Indian media reports as saying.

Categories:

Mobile

Companies:

Telenor,  Bharti Airtel,  Airtel

Countries:

India

Tags:

M&A buyouts & divestments

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