Tata Tele, Telenor to merge soon?

NEW DELHI: Norway-based Telenor Group and the Tata Group are likely to merge their wireless telephony businesses in India, media reports said.

The reports said, Telenor would be running the day-to-day business of the merged entity, and the Tata group would have a minority stake in the merged entity.

However, both the groups would come to a final conclusion after their talks in London this week.

Meanwhile, a Tata Sons Spokesperson declined to comment on the same.

At present, the companies are waiting for the merger and acquisition (M&A) policy that the government may announce after the ongoing telecom spectrum auction.

Uninor, the GSM arm of Telenor, offers services in seven telecom service circles while TataTele Services provides CDMA technology services across 19 telecom services and GSM services in 18 circles.

Last year, the Tata Group had decided to exit its telecom business.