Telenor group today sold its Indian Operations to Bharti Airtel Limited (Airtel), whereby Airtel will take full ownership of Telenor India.
Decision is taken at a time when Telenor group is facing increased financial pressure. It showed just 1% increase in revenues for all the markets where it operates.
As the new owner, Airtel will take over Telenor India’s spectrum, licenses and operations, including its employees and customer base of 44 million.
Sigve Brekke, Chief Executive Officer of Telenor Group, while commenting on the transaction said that selling business in India is in the best interest of our customers, employees and Telenor Group.
“Finding a long term solution to our India business has been a priority for us, and we are pleased with our agreement with Airtel”, he added.
According to the agreement, Airtel and Telenor India will merge and Airtel will take over Telenor India as soon as all necessary approvals are received. As part of the agreement, Airtel will take over outstanding spectrum payments and other operational contracts, including tower lease.
The transaction is expected to close within 12 months. With effect from first quarter 2017, Telenor India will be treated as an asset held for sale and discontinued operations in Telenor Group’s financial reporting.
Telenor had entered into India in 2008 but struggled in gaining momentum in a tough Indian market. As of fourth quarter 2016, the remaining value of tangible and intangible assets in Telenor India amounted to USD 0.04 billion.
Sad News :
Best Wishes for telenor Pakistan !
https://uploads.disquscdn.com/images/8c531b7af6671c7ed4e018405baf7c413b4eb112970b069e435412f5b3013e5d.jpg
InshAllah Pakistan will be next. Please telenor sale Pakistani operations to Zong. Your speed is more shitt than Karachi Kings
No Telenor is best after Warid/Jazz
Just like in your name
Hahaha aala..
Telenor will never sell in Pakistan. They have several verticals going on and soon they will be shifting their network to Data only. They here at least for another 5 to 10 years.
Data only network? In current circumstances You Are Funny. I mean very funny.
Elaborate please! How is that funny? Do you know even do your competitor’s analysis before rambling on in comments? Or you have no idea what a Data only network is?
I know what data only network is. If you know than remind it in your mind and look at Telenor and its source of revenues again.
Remind it in my mind? What exactly does it mean?? You do know you cannot just translate Urdu word by word, right? :D :D. And by the way, I am writing here AFTER i have seen Telenor’s Competitive Position as compared to other operators. By the way, How many USF projects have your company bid for? Telenor has not only bid but has been winning quite a few of USF projects since 2009. A company wont bid to expand IF it is planning to wrap up. The conclusion of the matter is some companies just release idiots on social media to blurt out anything without understanding market competitiveness. Anyways, i have figured that you are not worth discussing anything as you have no knowledge or sense of Telco Market. Ciao!
Wow. Thank you calling me an idiot. I am not interested in talking anymore. First learn to argu someone with respect. I might be 100% wrong. And I am not affiliated to any company as well. But you should improve you discussion skills. Really
Dear Ameer,
Mate,, in both cases of agreement or disagreement we have to be decent in selection of words. I felt very bad, there is nothing personal hope we respect for all as you are respectable for us,,,,, Cheer Up Zafar Bhai & Ameer :)
Telenor is slow
If I say the best suggestion for Telenor Pakistan is to sell its business to Zong and go back ! Bcoz Telenor failed to provide reasonable services in both Voice and Data.
jald he Pakistan say he bhag jayen gay, thakki hui service.
telenor is best confition in pakistan much better
I hope next one is Telenor pakistan….their services sucks….easyload easily ni milta…villages mein signals ni jaaty
Telenor ki services Villages mein sub sy behtar hein
Kahan yaar? Mein to gujrat apni aunty ko phone karta hun to jub tuk wo roof par na hun, ring hi ni hota
kitna achha hota agr pehly pakistan main ye sale out kr dety to . Poor network
You are an idiot Bhatti sb.
aapko mere comment se kya masla hua ? 3g ki speed aisay hai jesay gadha gaari . or telenor ko achha kesay boluv?
INDIAN visitors k aane se INDIAN news post hone lage yaha pe :D :D
lagta hai google adsense jada paise de rahe hai INDIAN visitors k :D :D
aur bhi news post karo..
jaise VODAFONE-IDEA merge ho raha hai..
phir aaj ka news ha..
Softbank in talks to buy 15-20% stake in Vodafone-Idea Cellular merge entity, The move will further allow Vodafone to deconsolidate its debt-ridden Indian operations from its books, and could also enable the company to gradually exit the Indian market.
and most important news:-
Jio ne INDIA me Rs303 monthly plan me 1GB per day 4G plan launch kiya hai + night unlimited 4G without any fup + Unlimited voice calls any network in INDIA + free LIVE TV, Cinema, music app etc.. jo April 2017 se start hoga.. after Jio free unlimited 4G plan end. yeh sab Rs303 k monthly plan.
cheapest 4G plan in the world.
Telenor is operating in Pakistan as well and people are so annoyed of them. This is only reason to post this news here.
Magar aap jo samjh rahai hein samjhte rahyn, khush fehmi achi cheez hai.
And let me tell you one more thing my friend, we don’t care what Indian companies are offering there, trust me, we really don’t
I am just assuming here that you are an employee of an anti-Telenor operator.
Poor tactics losers!!
You are the best judge in the world.
Thank you, now make Zong better by implementin a better business strategy. Would love to see Zong beating Telenor in atleast one Non-Telco vertical let aside Telco business. Easy paisa has been pounding all operators for around 8 years now. So yeah, it does make me a better Judge. Its all figures and statistics.
I have nothing to do with Zong or Telenor. I didn’t care which company beats which company in future. But Todays’s truth is that Zong is providing far better voice and data services than Telenor which is evident in new subscription graph.
If Telenor is going to do something great to its data services it is good than. But short of spectrum is a hurdle because even after refarming 3 MHz of 1800 MHz, they cannot manage to have 10 MHz for 4G.
And I don’t judge people personally, so I am not a good judge. Sorry
O bhai Telenor Pakistan mein bhi hy is hi liye yahan yeh news post hoi, Indians you really sucks
Of Course, Telenor is make safe exit while it still can. Isn’t Jio offering like 30 gb 4g data for 300 rs per month.
Telenor is performing very poorly in Pakistan as well. Basically it all depends on personal experience. So please don’t fight over telenor performance in Pakistan. It is totally dependent upon area and personal experience.