Airtel submits Rs 644 crore bank guarantee in TDSAT for Tata Tele merger

New Delhi: Telecom operator Bharti Airtel is learnt to have submitted a bank guarantee of Rs 644 crore in telecom tribunal TDSAT to complete the merger of Tata Teleservices’ consumer business with the company. The TDSAT on May 2 granted partial stay on a Rs 8,300-crore demand raised by the telecom department from Bharti Airtel for approving its merger with the consumer business of Tata Teleservices Ltd (TTSL).

“Bharti Airtel has submitted bank guarantee of around Rs 644 crore in TDSAT to complete merger of Tata Telservices’ (consumer business) with the company as was directed by the tribunal,” a source told .