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\"\"MUMBAI | NEW DELHI: The Tata Group has agreed to sell its mobile business to Bharti Airtel<\/a> for free, ending the salt-to-software conglomerate’s long-standing attempts to rid itself of this loss-making venture while bolstering the market share and 4G airwaves capacity of the Sunil Mittal-led company.
\n
\nThe deal, which has been done on a ‘debt-free, cash-free basis’ will intensify the consolidation process underway in the telecom industry<\/a>, which has now come to be dominated by three players — the Idea-Vodafone combine, Bharti Airtel<\/a> and Reliance Jio. Once the Idea-Vodafone merger is closed, Airtel will slip to the No. 2 position in the Indian market, and the acquisition of the Tata Teleservices<\/a> wireless operations will help it to narrow the gap with the merged entity.
\n
\nThe news about the deal was first reported on www.economictimes.com on Thursday afternoon, ahead of the formal announcement.
\n
\nHint of Future Tieups<\/strong>
\nIn a joint statement on Thursday, the two sides further said that they “will work together to further explore other mutual areas of cooperation, that will be value accretive for both the groups”, suggesting an alliance around their DTH, enterprise, and overseas cable businesses could be in the offing in future.

READ MORE: Airtel counters JioPhone with 4G smartphone at Rs 1399, inks deal with Karbonn<\/a>
<\/strong>
N Chandrasekaran<\/a>, chairman, Tata Sons<\/a>, said, that the deal was the best possible for the Tata Group and its stakeholders. “Finding the right home for our longstanding customers and our employees has been the priority for us,” said. In an interview to ET published earlier this week, the Tata Sons chairman had described the debt-plagued Tata Teleservices as ‘one of the big problems’ he had to deal with. “We will either have to sell it or have a graceful exit,” he had said.
\n
\nBharti Airtel chairman Sunil Mittal said the deal would strengthen his company’s market position in several key circles. “On completion, the proposed acquisition will undergo seamless integration, both on the customer as well as the network side,” he said.
\n
\nUnder the contours of the present deal, Tata Teleservices’ wireless operations — consumer mobile business — with over 40 million mobile subscribers, majority of 5,000 employees, and around 178.5 MHz of airwaves — nearly 40% of which are 4G ready — spread across 19 circles will be transferred to Bharti Airtel on a cash-free, debt-free basis, the two companies said in the statement. Tata Teleservices also runs enterprise and fixedline & broadband businesses.
\n
\n“The merger is being done on a debt-free cash-free basis, except for Bharti Airtel assuming a small portion of the unpaid spectrum liability of Tata towards DoT, which is to be paid on deferred basis,” the two companies said. “All past liabilities and dues to be settled by Tata,” their joint statement said, referring to the roughly Rs 31,000 crore on Tata Teleservices’ books.
\n
\nA person familiar with the matter said that Bharti Airtel will take care of roughly Rs 1,500-2,000 crore of the Rs 10,000 crore airwaves auction payments that Tata Teleservices needs to make to the government over the next few years.
\n
\n\n\t\n\t\n\t\n\t
\"\"
<\/span><\/figcaption><\/figure>\n\n\n\n\n\n\n\n
\n
\nTwists & Turns<\/strong>
\nThe Tata-Bharti discussions have gone through various twists and turns. Talks between Chandrasekaran and Mittal were initiated soon after the former took over as the chairman of Tata Sons about six months ago. As this newspaper reported on July 7, the two sides were in discussions to evaluate a mega alliance involving their telecom, overseas cable and enterprise services, and direct-to-home TV businesses. But the talks fell through as Airtel did not want to get bogged down in a multi-play buyout involving huge debt and multiple stakeholders. This was reported by this newspaper on August 4.
\n
\nThe two parties have now agreed to a simpler transaction involving just the mobile business as a first step. An executive directly familiar with the discussions said the talks resumed in earnest on Friday and the deal was stitched over the weekend. Goldman Sachs was the adviser to the transaction.
\n
\nTata’s wireless operations will continue as usual until the completion of the deal, which will also see Bharti Airtel getting the right to use part of the existing fibre backbone network of Tata Teleservices. Besides, the Tatas will retain their stake in tower company Viom Networks, and will take care of the liabilities associated with it, the two companies said.
\n
\nShares of Tata Teleservices (Maharashtra) – the listed unit of Tele Teleservices which provides services in the Mumbai and Maharashtra circles — surged 9.95% to close at Rs 4.42 on the BSE, while Bharti Airtel’s scrip ended at Rs 400.05, down 0.83% on Thursday. Tata Communications ended the day 2.1% higher at Rs 687.60. The BSE Sensex was up 1.09%. The deal announcement was made after market hours.
\n
\nPath to future: Tata Comm, Tata Sky<\/strong>
\nThe Tatas on Thursday also said they were in initial stages of exploring combination of Tata Teleservices’ enterprise business with Tata Communications and its retail fixedline and broadband business with Tata Sky. “Any such transaction will be subject to respective board and other requisite approvals,” the company said.
\n
\nThe employees of Tata Teleservices are being separated on the lines of the two businesses — consumer on one side and enterprise & fixedline and broadband on the other.
\n
\nFor the 53-year-old Chandrasekaran, the deal with Bharti marks the second significant restructuring of the group portfolio since he assumed office earlier this year. Last month, Tata Steel and German steelmaker Thyssenkrupp AG, agreed to merge their European businesses to become the second-largest steelmaker of the continent.
\n
\n“As soon as I came in, I looked at the portfolio and made a list that included Tata Teleservices, delinking European and the India business of Tata Steel, and commercial vehicles and passenger cars of Tata Motors,” he told ET a few days earlier.
\n
\nTata Teleservices has been facing immense financial pressure over the years amid ever-increasing competition. Its call to enter mobility in 2002 through CDMA technology didn’t succeed and by the time it adopted GSM in 2008 – and got NTT Docomo to invest around Rs 14,000 crore for a 26% stake — it had already fallen well behind the likes of Airtel, Vodafone and Idea. A brutal price war after the entry of new operators in 2008-09 meant the company continued to post losses while debt continued to mount, leading to Docomo’s eventual decision to exit in 2014. With the Tatas unable to find a buyer for its mobile business, the entry of Reliance Jio in September 2016 — which led to a dramatic industry disruption as data and voice rates tanked — was the proverbial last nail in the coffin, leaving the group with no option but shut it or sell it at any cost.
\n
\nBrokerage house UBS said it expected the deal to be EBITDA accretive for Bharti Airtel from the start.
\n
\n“As per the disclosures of Tata Group, the business was EBITDA positive and after adjusting for possible cost-outs after the acquisition, we believe it will likely be EBITDA accretive for Airtel from the start,” it said.
\n<\/body>","next_sibling":[{"msid":61061778,"title":"Post wireless merger, Bharti-Tata tango likely across telecoms & media space","entity_type":"ARTICLE","link":"\/news\/post-wireless-merger-bharti-tata-tango-likely-across-telecoms-media-space\/61061778","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":61061865,"entity_type":"ARTICLE","title":"Decoding the TTSL deal that puts Airtel within Jio's striking distance","synopsis":"The business along with its around 40 million customers will be transferred on a cash free, debt-free basis for some consideration.","titleseo":"telecomnews\/tata-teleservices-to-sell-its-wireless-mobile-business-to-bharti-airtel","status":"ACTIVE","authors":[{"author_name":"Arijit Barman","author_link":"\/author\/16028\/arijit-barman","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/16028.cms?width=100&height=100","author_additional":{"thumbsize":true,"msid":16028,"author_name":"Arijit Barman","author_seo_name":"arijit-barman","designation":"Journalist","agency":false}},{"author_name":"Romit Guha","author_link":"\/author\/479232631\/romit-guha","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479232631.cms?width=100&height=100","author_additional":{"thumbsize":false,"msid":479232631,"author_name":"Romit Guha","author_seo_name":"romit-guha","designation":"Correspondent","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2017-10-13 08:39:07","lastupd":"2017-10-13 10:15:46","breadcrumbTags":["Tata Tele-Airtel","N Chandrasekaran","Tata Teleservices","Tata Sons","Airtel","industry","Bharti Airtel"],"secinfo":{"seolocation":"telecomnews\/tata-teleservices-to-sell-its-wireless-mobile-business-to-bharti-airtel"}}" data-authors="[" arijit barman","romit guha"]" data-category-name="" data-category_id="" data-date="2017-10-13" data-index="article_1">

解码TTSL交易Airtel Jio的打击距离之内

业务及其周围4000万客户将转移现金免费,无债一身轻的基础上对一些考虑。

业务招待 Romit古哈
  • 更新2017年10月13日上午10:15坚持
孟买|新德里:塔塔集团已同意出售其Bharti的移动业务附近的旅馆免费,结束salt-to-software集团长期以来试图摆脱亏损的风险同时提高市场份额和4 g无线电波Sunil Mittal-led公司的能力。

已经完成的交易,在“无债一身轻,cash-free基础”会加剧电信整合过程进行行业,现在是由三名球员——Idea-Vodafone结合,Bharti Airtel和Jio的依赖。一旦Idea-Vodafone合并关闭,旅馆会到2号位置在印度市场,收购塔塔电信业务无线业务将有助于缩小收入差距与合并后的实体。

协议在w乐动扑克ww.economictimes.com上最先报道的消息周四下午,在正式宣布。

暗示未来Tieups
周四在一份联合声明中,双方进一步表示,“将共同努力,进一步探索其他共同合作领域,将价值的粘连的组织”,暗示一个联盟在他们对数,海外企业,电缆企业可能会出现在未来。

广告
阅读更多:Airtel计数器JioPhone 4 g智能手机在1399卢比,油墨处理Karbonn
N Chandrasekaran主席,塔塔的儿子说,这笔交易是最好的塔塔集团和其利益相关者。“找到合适的家为我们的长期客户和我们的员工一直为我们优先,”说。在本周早些时候发表的外星人的一次采访中,塔塔的儿子主席曾形容那样塔塔电信业务的一个重大问题的处理。“我们将不得不卖掉它或有一个优雅的退出,”他说。

Bharti Airtel董事长苏尼尔•米塔尔表示,这笔交易将增强公司的市场地位在几个关键的圈子里。”收购完成后将进行无缝集成,同时在客户以及网络方面,”他说。

根据目前的轮廓协议,塔塔电信业务的无线业务-消费者移动业务拥有超过4000万手机用户,多数的5000名员工,并在178.5 MHz的电波——近40%准备好了4 g——遍布19圈会被转移到cash-free Bharti Airtel,无债一身轻,这两家公司在声明中说。塔塔电信业务还经营企业和fixedline &宽带业务。

“无债一身轻的合并完成cash-free基础上,除了Bharti Airtel假设一小部分无偿的频谱塔塔对点的责任,这是延迟的基础上支付,“两家公司说。“所有过去的责任和费用由塔塔,“他们的联合声明说,他指的是塔塔电信业务账面上大约31000卢比。

一位知情人士说,Bharti Airtel会照顾大约1500 - 2000卢比的10000卢比电波拍卖款项,塔塔电信业务需要政府在未来几年。



挫折与坎坷
Tata-Bharti讨论已经通过各种曲折。会谈Chandrasekaran和米塔尔启动后不久前接任主席Tata Sons大约六个月前。正如本报报道7月乐动扑克7日,双方在讨论评估大型联盟涉及电信、海外电缆和企业服务,和direct-to-home电视业务。但是谈判告吹,Airtel不想陷入multi play收购涉及巨额债务和多个利益相关者。这是本报报道8月4日。乐动扑克

双方已经同意一个更简单的事务涉及移动业务的第一步。执行直接熟悉认真讨论说,会谈恢复在周五和周末的交易。高盛(Goldman Sachs)事务顾问。

塔塔的无线业务将继续像往常一样,直到交易完成后,还将看到Bharti Airtel得到正确的使用现有的光纤骨干网的一部分塔塔电信业务。此外,塔塔将保持其股份公司Viom网络,并将照顾与它相关的负债,这两家公司说。

塔塔电信业务的股票(马哈拉施特拉邦)——Tele电信业务的上市子公司提供服务在孟买和马哈拉施特拉邦圈-飙升9.95%,收于4.42卢比疯牛病,虽然Bharti Airtel的代币400.05 Rs结束,周四下降了0.83%。塔塔通信收盘上涨2.1%,至687.60卢比。BSE Sensex指数上涨1.09%。市场小时后交易公告发布之时。

未来之路:天空塔塔,塔塔通信
周四再见还表示,他们在初始阶段的探索的塔塔电信业务的企业业务组合与塔塔通信及其零售fixedline和宽带业务与塔塔的天空。“任何此类交易将受到各自的董事会和其他必要的批准,”该公司表示。

塔塔电信业务的员工被分离的两个企业,消费者和企业& fixedline一侧和宽带。

这笔交易的53岁•钱德拉塞卡兰与Bharti第二重要的重组集团今年早些时候他上任以来投资组合。上个月,塔塔钢铁和德国蒂森克虏伯钢铁公司股价,同意合并他们的欧洲企业成为非洲第二大钢铁制造商。

“当我进来的时候,我看着组合,列了一个清单,包括塔塔电信业务,以至于虽然欧洲和印度的塔塔钢铁,商用车和乘用车的塔塔汽车(Tata Motors),”他告诉ET几天前。

塔塔电信业务多年来一直面临巨大的财务压力在不断增长的竞争。2002年电话进入流动通过CDMA技术没有成功的时候,采用GSM 2008 -, NTT Docomo投资14000卢比左右26%的股权——这已经远远落后于旅馆、沃达丰和想法。残酷的价格战在2008 - 09年新运营商的条目后意味着公司继续亏损,而债务继续增加,导致Docomo的最终决定在2014年退出。再见无法找到买家的移动业务,信实Jio的进入2016年9月——这导致了戏剧性的工业破坏数据和语音利率下跌——是众所周知的最后一口气,离开该组织没有选择但关闭或出售它不惜任何代价。

瑞银经纪公司表示,预计该交易将EBITDA粘连的Bharti Airtel的开始。

“根据披露的塔塔集团,业务是EBITDA积极和调整后可能cost-outs收购后,我们认为它可能将EBITDA粘连的旅馆从一开始,”它说。
  • 发布于2017年10月13日上午08:39坚持
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\"\"MUMBAI | NEW DELHI: The Tata Group has agreed to sell its mobile business to Bharti Airtel<\/a> for free, ending the salt-to-software conglomerate’s long-standing attempts to rid itself of this loss-making venture while bolstering the market share and 4G airwaves capacity of the Sunil Mittal-led company.
\n
\nThe deal, which has been done on a ‘debt-free, cash-free basis’ will intensify the consolidation process underway in the telecom industry<\/a>, which has now come to be dominated by three players — the Idea-Vodafone combine, Bharti Airtel<\/a> and Reliance Jio. Once the Idea-Vodafone merger is closed, Airtel will slip to the No. 2 position in the Indian market, and the acquisition of the Tata Teleservices<\/a> wireless operations will help it to narrow the gap with the merged entity.
\n
\nThe news about the deal was first reported on www.economictimes.com on Thursday afternoon, ahead of the formal announcement.
\n
\nHint of Future Tieups<\/strong>
\nIn a joint statement on Thursday, the two sides further said that they “will work together to further explore other mutual areas of cooperation, that will be value accretive for both the groups”, suggesting an alliance around their DTH, enterprise, and overseas cable businesses could be in the offing in future.

READ MORE: Airtel counters JioPhone with 4G smartphone at Rs 1399, inks deal with Karbonn<\/a>
<\/strong>
N Chandrasekaran<\/a>, chairman, Tata Sons<\/a>, said, that the deal was the best possible for the Tata Group and its stakeholders. “Finding the right home for our longstanding customers and our employees has been the priority for us,” said. In an interview to ET published earlier this week, the Tata Sons chairman had described the debt-plagued Tata Teleservices as ‘one of the big problems’ he had to deal with. “We will either have to sell it or have a graceful exit,” he had said.
\n
\nBharti Airtel chairman Sunil Mittal said the deal would strengthen his company’s market position in several key circles. “On completion, the proposed acquisition will undergo seamless integration, both on the customer as well as the network side,” he said.
\n
\nUnder the contours of the present deal, Tata Teleservices’ wireless operations — consumer mobile business — with over 40 million mobile subscribers, majority of 5,000 employees, and around 178.5 MHz of airwaves — nearly 40% of which are 4G ready — spread across 19 circles will be transferred to Bharti Airtel on a cash-free, debt-free basis, the two companies said in the statement. Tata Teleservices also runs enterprise and fixedline & broadband businesses.
\n
\n“The merger is being done on a debt-free cash-free basis, except for Bharti Airtel assuming a small portion of the unpaid spectrum liability of Tata towards DoT, which is to be paid on deferred basis,” the two companies said. “All past liabilities and dues to be settled by Tata,” their joint statement said, referring to the roughly Rs 31,000 crore on Tata Teleservices’ books.
\n
\nA person familiar with the matter said that Bharti Airtel will take care of roughly Rs 1,500-2,000 crore of the Rs 10,000 crore airwaves auction payments that Tata Teleservices needs to make to the government over the next few years.
\n
\n\n\t\n\t\n\t\n\t
\"\"
<\/span><\/figcaption><\/figure>\n\n\n\n\n\n\n\n
\n
\nTwists & Turns<\/strong>
\nThe Tata-Bharti discussions have gone through various twists and turns. Talks between Chandrasekaran and Mittal were initiated soon after the former took over as the chairman of Tata Sons about six months ago. As this newspaper reported on July 7, the two sides were in discussions to evaluate a mega alliance involving their telecom, overseas cable and enterprise services, and direct-to-home TV businesses. But the talks fell through as Airtel did not want to get bogged down in a multi-play buyout involving huge debt and multiple stakeholders. This was reported by this newspaper on August 4.
\n
\nThe two parties have now agreed to a simpler transaction involving just the mobile business as a first step. An executive directly familiar with the discussions said the talks resumed in earnest on Friday and the deal was stitched over the weekend. Goldman Sachs was the adviser to the transaction.
\n
\nTata’s wireless operations will continue as usual until the completion of the deal, which will also see Bharti Airtel getting the right to use part of the existing fibre backbone network of Tata Teleservices. Besides, the Tatas will retain their stake in tower company Viom Networks, and will take care of the liabilities associated with it, the two companies said.
\n
\nShares of Tata Teleservices (Maharashtra) – the listed unit of Tele Teleservices which provides services in the Mumbai and Maharashtra circles — surged 9.95% to close at Rs 4.42 on the BSE, while Bharti Airtel’s scrip ended at Rs 400.05, down 0.83% on Thursday. Tata Communications ended the day 2.1% higher at Rs 687.60. The BSE Sensex was up 1.09%. The deal announcement was made after market hours.
\n
\nPath to future: Tata Comm, Tata Sky<\/strong>
\nThe Tatas on Thursday also said they were in initial stages of exploring combination of Tata Teleservices’ enterprise business with Tata Communications and its retail fixedline and broadband business with Tata Sky. “Any such transaction will be subject to respective board and other requisite approvals,” the company said.
\n
\nThe employees of Tata Teleservices are being separated on the lines of the two businesses — consumer on one side and enterprise & fixedline and broadband on the other.
\n
\nFor the 53-year-old Chandrasekaran, the deal with Bharti marks the second significant restructuring of the group portfolio since he assumed office earlier this year. Last month, Tata Steel and German steelmaker Thyssenkrupp AG, agreed to merge their European businesses to become the second-largest steelmaker of the continent.
\n
\n“As soon as I came in, I looked at the portfolio and made a list that included Tata Teleservices, delinking European and the India business of Tata Steel, and commercial vehicles and passenger cars of Tata Motors,” he told ET a few days earlier.
\n
\nTata Teleservices has been facing immense financial pressure over the years amid ever-increasing competition. Its call to enter mobility in 2002 through CDMA technology didn’t succeed and by the time it adopted GSM in 2008 – and got NTT Docomo to invest around Rs 14,000 crore for a 26% stake — it had already fallen well behind the likes of Airtel, Vodafone and Idea. A brutal price war after the entry of new operators in 2008-09 meant the company continued to post losses while debt continued to mount, leading to Docomo’s eventual decision to exit in 2014. With the Tatas unable to find a buyer for its mobile business, the entry of Reliance Jio in September 2016 — which led to a dramatic industry disruption as data and voice rates tanked — was the proverbial last nail in the coffin, leaving the group with no option but shut it or sell it at any cost.
\n
\nBrokerage house UBS said it expected the deal to be EBITDA accretive for Bharti Airtel from the start.
\n
\n“As per the disclosures of Tata Group, the business was EBITDA positive and after adjusting for possible cost-outs after the acquisition, we believe it will likely be EBITDA accretive for Airtel from the start,” it said.
\n<\/body>","next_sibling":[{"msid":61061778,"title":"Post wireless merger, Bharti-Tata tango likely across telecoms & media space","entity_type":"ARTICLE","link":"\/news\/post-wireless-merger-bharti-tata-tango-likely-across-telecoms-media-space\/61061778","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[],"msid":61061865,"entity_type":"ARTICLE","title":"Decoding the TTSL deal that puts Airtel within Jio's striking distance","synopsis":"The business along with its around 40 million customers will be transferred on a cash free, debt-free basis for some consideration.","titleseo":"telecomnews\/tata-teleservices-to-sell-its-wireless-mobile-business-to-bharti-airtel","status":"ACTIVE","authors":[{"author_name":"Arijit Barman","author_link":"\/author\/16028\/arijit-barman","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/16028.cms?width=100&height=100","author_additional":{"thumbsize":true,"msid":16028,"author_name":"Arijit Barman","author_seo_name":"arijit-barman","designation":"Journalist","agency":false}},{"author_name":"Romit Guha","author_link":"\/author\/479232631\/romit-guha","author_image":"https:\/\/etimg.etb2bimg.com\/authorthumb\/479232631.cms?width=100&height=100","author_additional":{"thumbsize":false,"msid":479232631,"author_name":"Romit Guha","author_seo_name":"romit-guha","designation":"Correspondent","agency":false}}],"Alttitle":{"minfo":""},"artag":"ET Bureau","artdate":"2017-10-13 08:39:07","lastupd":"2017-10-13 10:15:46","breadcrumbTags":["Tata Tele-Airtel","N Chandrasekaran","Tata Teleservices","Tata Sons","Airtel","industry","Bharti Airtel"],"secinfo":{"seolocation":"telecomnews\/tata-teleservices-to-sell-its-wireless-mobile-business-to-bharti-airtel"}}" data-news_link="//www.iser-br.com/news/tata-teleservices-to-sell-its-wireless-mobile-business-to-bharti-airtel/61061865">