Bharti Airtel in talks with Telenor to buy India business for $350 million

Bharti Airtel is in talks with Norway-based Telenor for buying its India business for $350 million. Bharti Airtel is likely to take over half of Telenor India’s liabilities, while the latter is expected to bear the remaining half. The deal is likely to be closed by end-January 2017. Telenor has reportedly been looking to exit the Indian market, owing to the huge losses incurred in the past few years and its limited spectrum holdings. The company was earlier in talks with Idea Cellular for a transfer of all liabilities and assets without an actual payout.