Airtel buys Aircel spectrum in seven circles

NEW DELHI: India’s top telecom service provider Bharti Airtel has said that it has acquired the rights to use Aircel’s spectrum in eight circles for Rs 3500 crore. Aircel’s 4G airwaves in the 2300 Mhz band are valid till September 20, 2030.

With this, the Company has completed the transaction in 7 out of 8 circles namely Tamil Nadu (including Chennai); Bihar, Jammu and Kashmir, West Bengal, Assam, North East and Odisha.

"With reference to the earlier intimation dated April 08, 2016 & July 10, 2016 w.r.t 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 Odisha circle following the receipt of all necessary approvals and satisfying all the conditions (including conditions stated in the Spectrum Trading Guidelines)," the company said in a statement.