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Breaking News : Airtel to acquire Aircel’s 4G spectrum in 8 circles for Rs. 3500 crore
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Bharti Airtel has announced that the company and its subsidiary, Bharti Hexacom have entered into definitive agreements with Aircel and its subsidiaries, Dishnet Wireless to acquire rights to use 20 MHz of 2300 Band 4G spectrum for eight circles – Tamil Nadu (including Chennai), Bihar, Jammu & Kashmir, West Bengal, Assam, North East, Andhra Pradesh and Orissa for an aggregate consideration of Rs. 3,500 crore.

The spectrum that was allotted to Aircel and Dishnet is valid up to September 20, 2030. Last month Airtel acquired 1800 MHz spectrum from Videocon Telecom in six circles – Bihar, Haryana, Madhya Pradesh, UP (East), UP (West) and Gujarat (Transaction) in a deal worth Rs. 4,428 crore.

“The transfer of the right to use for the circles of Andhra Pradesh and Orissa is subject to the revision of spectrum caps with the upcoming auction to be conducted by the telecom department. The closing of the transaction is subject to satisfaction of the standard conditions (including conditions stated in the Spectrum Trading Guidelines), as are normal to such transactions,” said Airtel. It launched 4G services in 296 towns across India in August and is rapidly expanding across the country.

http://www.fonearena.com/blog/181452/air...crore.html
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