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AZB Delhi nabs both sides of $1bn+ Airtel, Telenor takeover

Bharti Airtel is buying the Indian telecoms assets of Norwegian telecoms major Telenor in a deal that’s estimated at Rs 6,800 to Rs 7,000 crore, including debts of Rs 1,500 crore, according to Moneycontrol.

AZB & Partners Delhi acted for Bharti Airtel, of course, which seems to have not used any other firm for its M&A in years. AZB partner Gautam Saha, with partner Sachin Mehta and senior associate Nikhil Bahl led the Airtel team.

AZB & Partners Delhi partner Vinati Kastia and senior associate Ankit Tandon, operating behind a Chinese wall agreed to between the parties, acted for Telenor, which has also been a close client of AZB’s for a few years.

AZB Delhi managing partner Ajay Bahl also assisted on the deal.

Bharti Airtel has been one of AZB Delhi’s most valuable and most active M&A clients for a long time, having given it such choice M&A mandates as its $10.7bn purchase of Kuwaiti Zain’s African assets in 2010, and the more recent 2014 sale of some of its Africa-based towers to Helios Towers for $1bn.

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