Jersey's Treasury minister Alan Maclean, pictured, announced the possible merger at its States assembly yesterday morning, which, if agreed, would see Airtel take a minority interest in JT, with the States retaining majority control of the resultant company.
A joint statement from Airtel and JT said the two companies would merge operations, creating a single, larger group, if agreement were reached.
However, before the merger could go ahead, approval would be needed from the regulator and shareholders, including the States of Jersey.
Jersey Treasury minister Senator Maclean said the offer from the ultimate owner of the Airtel business in the Channel Islands (owner of Bharti Airtel) Sunil Bharti Mittal would mean the States retained just under 75% of the shares.
'I recently met Mr Mittal at his request and I am satisfied that his offer is intended to develop and grow the JT business and build on his long-term commitment to Jersey,' he said.
'Having considered the offer, the board of JT has confirmed that it views the offer as worthy of very serious consideration.'
