Tata Teleservices

India’s Department of Telecommunications approved a Bharti Airtel acquisition of Tata Teleservices’ consumer mobile business on the condition it secures bank guarantees of INR90 billion ($1. 3 billion) to cover spectrum charges, The Economic Times reported.

Tata Sons will pay the majority of an INR100 billion ($1. 4 billion) debt its Tata Teleservices unit owes the government, even though Bharti Airtel has formally assumed responsibility, The Economic Times (ET) reported.

Bharti Airtel, the largest mobile operator in India, received approval from the Competition Commission of India to acquire conglomerate Tata Sons’ consumer mobile units.

Tata Teleservices, one of the smallest mobile operators in India, is preparing to shut down its operations with the heads of its regional units told to leave by the end of March 2018, The Economic Times (ET) said.

NTT Docomo successfully argued an agreement signed by India’s government in the late 1950s held relevance in a dispute with Tata Sons over the Japanese operator’s stake in Tata Teleservices.

India’s Reliance Communications entered into merger negotiations with Tata Teleservices in a move to further beef up its operation, amid increasing competition and proposed consolidation in the country.

An international arbitration court ordered India’s Tata Sons to pay Japan’s NTT Docomo $1. 17 billion for the Japanese firm’s stake in the failed Tata Docomo joint venture. Docomo, which acquired a 26.