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Airtel completes spectrum trading with Aircel

Airtel had entered into the Rs 3,500-crore deal with Aircel to acquire rights to use the latter's 4G spectrum in eight telecom circles

Press Trust of India  |  New Delhi 

Bharti Airtel office building in New Delhi
Bharti Airtel office building in New Delhi

Telecom major Bharti Airtel on Tuesday said it has completed acquisition of 4G airwaves of Aircel in all the eight telecom circles under their Rs 3,500-crore trading deal.

"... With respect to the acquisition of rights to use 20 MHz of in 2,300 band (BWA) from Aircel, we are pleased to submit that the proposed transaction has been successfully concluded for Andhra Pradesh circle following the receipt of all necessary approvals and satisfying all the conditions (including conditions stated in the trading guidelines)," Bharti Airtel said in a BSE filing.

Airtel had entered into the Rs 3,500-crore deal with Aircel to acquire rights to use the latter's 4G spectrum in eight telecom circles -- Tamil Nadu (including Chennai), Bihar, Jammu and Kashmir, West Bengal, Assam, North East, Odisha and Andhra Pradesh.

"With this, the company has completed the transaction in all eight circles," it said.

The deal makes Airtel the second largest holder of 4G spectrum in 2,300 Mhz band after Reliance Jio Infocomm, which holds the 4G spectrum in all 22 circles of the country.

First Published: Tue, November 22 2016. 23:21 IST
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