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12Th
Aug 2016
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.The Total Investment & Insurance Solutions
"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.The Total
Investment & Insurance Solutions
"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.The Total Investment & Insurance
Solutions
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