New Delhi: Bharti Airtel has acquired rights to use 4G airwaves of Aircel in seven out of eight telecom circles under their Rs 3,500-crore spectrum trading deal.
"...with respect to the acquisition of rights to use 20 Mhz 2300 band BWA spectrum from Aircel, Bharti Airtel Ltd has now informed BSE that the proposed transaction has been successfully concluded for Orissa circle following the receipt of all necessary approvals and satisfying all the conditions," the company said in a regulatory filing.
Airtel has 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 & Kashmir, West Bengal, Assam, North East, Orissa and and Andhra Pradesh.
Airtel already has completed the transaction in six circles of Tamil Nadu (including Chennai), Bihar, Jammu & Kashmir, West Bengal, Assam and North East. The spectrum trading deal related to the Andhra Pradesh circle is yet to complete.
For Orissa circle, Airtel had to surrender 1.2 Mhz spectrum, worth around Rs 38 crore for approval as it breached the spectrum limit after taking into account Aircel's spectrum.
The deal makes Airtel second largest holder of 4G spectrum in 2300 Mhz band after Reliance Jio Infocomm, which holds the 4G spectrum in all 22 circles of the country.
Meanwhile, the Department of Telecom has put all spectrum trading, sharing and liberalisation deal on hold till the end of auction scheduled to start from September 29.
