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Bharti Airtel will absorb the operations of Tata's mobile business in 19 circles across the country LATEST NEWS : Tata Teleservices Limited (TTSL) and Tata Teleservices Maharashtra Limited (TTML) will combine their Consumer Mobile Businesses (Tata CMB) with Bharti Airtel Limited, Tata Tele announced on Thursday. With this merger, 40 million Tata Tele customers would be added to Bharti Airtel's user base. As part of the agreement, Bharti Airtel would absorb Tata Tele’s operations across the country in 19 circles (17 under TTSL and two under TTML), Bharti Airtel said in a release. Since the proposed merger would include the transfer of all customers and assets to Bharti Airtel, it would not only augment Bharti Airtel’s overall customer base but also strengthen its network. It will also enable Bharti Airtel to further bolster its spectrum footprint, with the addition of 178.5 MHz spectrum (of which 71.3 MHz is liberalised) in the 850, 1800 & 2100-MHz b...

Apart from Jio price war, rising losses, increase in interest payments are other reasons RELIANCE JIO - The woes of Tata Teleservices continue to mount with its net worth eroding by Rs 11,653 crore at the end of the financial year ended March 2017, on rising losses and interest payments. The company announced a loss of Rs 4,617 crore for FY17, compared to a loss of Rs 2,023 crore in FY16. This is a bad news for its promoter, Tata Sons, which will have to keep investing in the company’s equity so that it can meet its liabilities, bankers said. But, the company’s debt stood reduced almost five per cent from Rs 30,192 crore in FY16 to Rs 28,766 crore in FY17. Because of the price war in telecom spurred by the entry of Reliance Jio, the Tata group company’s turnover declined to Rs 9,419 crore in FY17 from Rs 10,588 crore in FY16. The Tata group company is not the only one which struggled during the year. Aditya Birla Group’s Idea Cellular also reported losses of Rs 400 ...