Airtel's Acquisition of Tata's Consumer Mobile Businesses: A Matter of Choice or Necessity?
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Case Code: BSTR553 Case Length: 14 Pages Period: 1996-2017 Pub Date: 2018 Teaching Note: Available |
Price: Rs.300 Organization: Bharti Airtel, Tata's Consumer Mobile Businesses Industry: Telecom Countries: India Themes: Merger and Acquisition |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
On October 12, 2017, India's leading telecommunication (telecom) company Bharti Airtel Limited (Airtel) announced a debt-free cash-free merger deal with Tata's Consumer Mobile Businesses (CMB), Tata Teleservices Limited (TTSL) and Tata Teleservices Maharashtra (TTML). The merged entity would have an estimated 31.9% of the subscriber base and 40.6% of revenue market share of the telecom industry. This deal ended a 20-year-old saga of strategic failures and losses of Tata's CMB. On the merger, Sunil Bharti Mittal (Mittal), Chairman, Airtel, said, "This is a significant development towards further consolidation in the Indian mobile industry, and it further strengthens Airtel's market position in several key circles, and the deal creates substantial long-term value for shareholders given the significant synergies"....
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