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Updated on: Tuesday, December 24, 2019, 08:47 AM IST

Airtel, Jio fight on bank guarantees

While Airtel wants the government to relook at the current merger and acquisition (M&A) policy and allow faster approvals and seamless transition
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New Delhi: Airtel and Jio on Monday were once again pitted against each other on another key issue involving transfer and merger of telecom licences.

While Airtel wants the government to relook at the current merger and acquisition (M&A) policy and allow faster approvals and seamless transition, Reliance Jio has asked Department of Telecom to maintain status quo relating to addressing pending dues and demands from licencees.

The divergent views surfaced during an open house on "Reforming the guidelines for transfer/merger of telecom licenses" organised by telecom regulator in the wake of constantly changing scenario in the sector.

Airtel said the current M&A policy does not deal with all types of transactions. Therefore, the M&A policy requires a serious review to deal with all situations.

The policy also required to be relooked for the reason that in almost all cases, the merging entities have been compelled to seek relief before various courts against many provisions of the merger guidelines, either before or after the merger, it said.

On the same, Reliance Jio, however, has asked Department of Telecom to maintain status quo relating to addressing pending dues and demands from licencees.

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Published on: Tuesday, December 24, 2019, 08:47 AM IST
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