Airtel completes acquisition of Aircel spectrum in six of eight circles

11 Jul 2016

India’s largest cellco by subscribers, Bharti Airtel, has completed its acquisition of 20MHz of 2300MHz spectrum from Aircel in six circles of the eight initially proposed. The transactions for the frequencies in Tamil Nadu, Bihar, Jammu & Kashmir, West Bengal, Assam and North East were concluded following the receipt of all necessary approvals and the two parties satisfying all conditions, whilst the purchase of the spectrum in the remaining two areas – Andhra Pradesh and Orissa – is ongoing. The Economic Times cites a person familiar with the matter as saying that the deal was approved last week, with the condition that Airtel relinquish certain frequencies in Orissa, as the acquisition would cause it breach the spectrum cap in that circle. As previously reported by CommsUpdate, Airtel agreed in April 2016 to purchase the frequencies in the eight circles for INR35 billion (USD520.59 million).

India, Aircel, Bharti Airtel