Bharti Airtel completes spectrum trading deal with Aircel in Odisha circle
New Delhi: Bharti Airtel Ltd has completed acquisition of the right to use 20Mhz spectrum in 2300Mhz band in the Odisha circle resulting from a deal with Aircel Ltd.
On Thursday, Bharti Airtel intimated the National Stock Exchange and the BSE about the completed transaction in the seventh circle.
Airtel and Aircel entered into a spectrum trading deal in April for eight circles in 2300Mhz band worth Rs.3,500 crore.
Airtel now holds rights to use spectrum in seven out of eight circles which includes Bihar, Assam, the north-east, Jammu & Kashmir, Tamil Nadu, West Bengal and Odisha.
The transactions in the last circle of Andhra Pradesh are yet to be completed.
The department of telecommunication gave its approval to Airtel-Aircel spectrum trading deal in July 2016.
Earlier in March, Airtel had acquired rights to use entire spectrum in 1800MHz band from Videocon Telecommunications Ltd worth Rs.4,428 crore.
Bharti Airtel’s total spectrum holding is 769.9Mhz across India—the highest in the telecom sector.