Bharti Airtel, Hexacom gain as Airtel acquires 26 GHz spectrum from Adani Data Networks

Bharti Hexacom rose 1.49%, while parent company Bharti Airtel climbed 0.43% on Tuesday after announcing a strategic spectrum acquisition deal with Adani Data Networks (ADNL), a subsidiary of Adani Enterprises.

Bharti Airtel and its subsidiary, Bharti Hexacom, have signed definitive agreements to acquire the rights to use 400 MHz of spectrum in the 26 GHz band from ADNL. The acquisition spans six key telecom circles: Gujarat and Mumbai (100 MHz each), and Andhra Pradesh, Rajasthan, Karnataka, and Tamil Nadu (50 MHz each).

Bharti Airtel stated that the completion of the transaction is contingent on standard closing conditions, including statutory approvals.

Bharti Hexacom is a communications solutions provider offering consumer mobile services, fixed-line telephone and broadband services to customers in the Rajasthan and the North East telecommunication circles in India, which comprises the states of Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland and Tripura. It offers services under the brand Airtel. Airtel is a global communications solutions provider with over 550 million customers in 17 countries across South Asia and Africa.

 

Bharti Airtel is a global communications solutions provider with over 550 million customers in 15 countries across India and Africa. The company also has its presence in Bangladesh and Sri Lanka though its associate entities.

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