hiddenAug 12, 2016 08:32:25 IST
Bharti Airtel has acquired the rights to use Aircel's Odisha circle, with which it completed rights to use 4G airwaves of Aircel in seven out of eight circles in the spectrum trading deal between the companies. "The acquisition of rights to use 20 MHz 2300 Band BWA spectrum from Aircel, Bharti Airtel has now informed BSE that the proposed transaction has been successfully concluded for Odisha circle following the receipt of all necessary approvals and satisfying all the conditions (including conditions stated in the spectrum trading guidelines)," a regulatory filing by the company said on Thursday.
"With this, the company has completed the transaction in 7 out of 8 circles namely Tamil Nadu (including Chennai); Bihar, Jammu & Kashmir, West Bengal, Assam, North East and Odisha," the filing with the BSE said. Bharti Airtel announced on April 8 it has entered into a definitive agreement with Aircel to acquire its 4G airwaves in eight circles for Rs 3,500 crore through a spectrum trading deal.
"Bharti Airtel and its subsidiary, Bharti Hexacom have entered into a definitive agreements with Aircel and its subsidiaries Dishnet Wireless and Aircel Cellular to acquire rights to use 20 MHz of 2300 band 4G spectrum for eight circles for an aggregate consideration of Rs 3,500 crore," the company earlier said in a statement. The eight circles are Tamil Nadu (including Chennai), Bihar, Jammu and Kashmir, West Bengal, Assam, North East, Andhra Pradesh and Odissa.
The spectrum is valid till September 20, 2030. With this acquisition, the company will become a pan India 4G operator, the statement added.
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