This announcement regarding the merger of the Consumer Mobile Businesses of Tata Teleservices Limited (TTSL) and Tata Teleservices (Maharashtra) Limited (TTML) into Bharti Airtel Limited and Bharti Hexacom Limited (Airtel) is made.
This mega telecom merger news is expected to impact the stock markets movements. Stock trading for these stocks is going to have action around this news development.
Following the Hon’ble TDSAT’s order directing the DOT to take the merger on record and approval of the schemes of arrangement by NCLT, Delhi and NCLT, Mumbai, we are pleased to announce that the schemes of arrangement have become effective today i.e. 1st July 2019. Consequently, all customers, assets, spectrum and agreed liabilities of the Consumer Mobile Businesses of TTSL and TTML now stand merged with Airtel, informs a top official of TTSL.