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India's Bharti Airtel to buy Telenor's local business

Norwegian telecom's farewell underscores battle of attrition

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Airtel, India's largest wireless telecommunications provider, announced a deal Thursday to acquire all of Telnor's subscribers and assets in the country.   © Reuters

NEW DELHI/BANGKOK -- Bharti Airtel, India's largest telecom operator, on Thursday announced it has reached an agreement to buy the Indian operations of Norway's Telenor, a move that will bolster Airtel's position in the face of stiff competition from Reliance Industries' newly launched wireless venture.

The deal's value was not disclosed, but the Business Standard newspaper reported on its website, citing unnamed sources, it may be worth 70 billion rupees ($1.05 billion).

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