Bharti Airtel buys Telenor’s India arm for Jio fight

MUMBAI

Indian telecom giant Bharti Airtel will buy the local operations of Norway’s Telenor, it said Thursday, as the ultra-competitive mobile market is shaken up by the country’s richest man.

The move, which still needs to be approved by regulators, will enhance its coverage, the company said in a statement to the Bombay Stock Exchange (BSE), and see Telenor exit India. Tycoon Mukesh Ambani launched Reliance Jio’s 4G network in September last year with an audacious free service for the rest of 2016, followed by vastly cheaper data plans and free voice calls for life. (AFP)