HIGHLIGHTS The merger is on a debtfree and cash-free basis Bharti will get the Tata consumer mobile business virtually for free The deal marks the beginning of a growing relationship between the two corporates which could span businesses such as DTH, enterprise and undersea cable. The shakeout in mobile telecom continued as the Tata Group quit the highly-competitive sector after nearly 15 years, merging its loss-making consumer mobile business, consisting of Tata Teleservices Ltd and Tata Teleservices Maharashtra Ltd, with Bharti Airtel. The struggling venture is saddled with debt of over Rs 40,000 crore, but the Tatas will clear past liabilities and dues as part of the deal. It highlights the rapid consolidation in the sector after the aggressive launch of services by Mukesh Ambani's Reliance Jio in September last year. It follows on the heels of Vodafone and Idea - the second and third largest telecom companies respectively - agreeing to merge to become No 1 ...
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