Bharti Airtel said that it has terminated the discussions with the TATA Group for exploring a potentional combination of the Group's DTH' business with Bharti Telemedia, a subsidiary of the company.
In February this year, the telecom entity had stated that Bharti Airtel and TATA Group were in bilateral discussions to explore a potential transaction to achieve a combination of TATA Groups direct-to-home (DTH) business, housed under Tata Play, with Bharti Telemedia.
Offering an update on the same, Airtel stated that after not being able to find a satisfactory resolution, the parties have mutually decided to terminate the discussions.
Bharti Airtel is a global communications solutions provider with over 550 million customers in 15 countries across India and Africa. The company also has its presence in Bangladesh and Sri Lanka though its associate entities.
The scrip rose 0.62% to currently trade at Rs 1863.50 on the BSE.
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