Bharti Airtel will merge its operations with the Tata Group’s consumer mobile business, Tata Teleservices Limited (TTSL). Under the agreement, Bharti Airtel will take control of TTSL’s operations across the country in 19 circles. The boards of both the telecom operators have approved the acquisition. However, it is subject to the requisite regulatory approvals. The proposed merger will include the transfer of all the customers and assets of TTSL to Bharti Airtel. It will also result in the transfer of 178.5 MHz of spectrum (of which 71.3 MHz is liberalised) in the 850 MHz, 1800 MHz and 2100 MHz bands to Bharti Airtel’s existing spectrum. The transaction will grant Bharti Airtel an indefeasible right to use part of Tata’s existing fibre network. The merger is being done on a debt-free cash-free basis, except for Bharti Airtel assuming a small portion of TTSL’s unpaid spectrum liability, which is to be paid on a deferred basis to DoT.