Telenor, which won rights to operate in six Indian zones in an auction this month after its earlier permits were ordered to be revoked, is looking to take a majority stake in the merged entity, the source said.
The deal will see India’s Tata Group cutting its stake in unlisted Tata Teleservices, the country’s No. 6 mobile phone carrier, said the source, declining to be named due to the sensitivity of the matter.
The merged entity will be ranked No. 5 by customers.