Airtel Acquires 173.8 Mhz Spectrum In Telecom Auction

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Bharti Airtel, the India's largest telecommunications services providers has said that it has acquired 173.8 Mhz spectrum across 1800/2100/2300 MHz bands for a total consideration of Rs 14,244 cr in the latest spectrum auction conducted by the Department of Telecom, Government of India.

Airtel Acquires 173.8 Mhz Spectrum In Telecom Auction
Bharti Airtel: Quotes, News
BSE 329.00BSE Quote2.7 (0.82%)
NSE 332.00NSE Quote0.45 (0.14%)

Airtel has further strengthened its pan-India spectrum portfolio and secured its spectrum requirements for the next 20 years. The Company now has 4G and 3G spectrum in all circles, giving it the widest mobile broadband footprint across the country. It already has 2G spectrum in all circles. Over the past six years, the Company has acquired spectrum worth appx. Rs 100,000 cr through auctions and trading.

Through strategic buying, in the latest auction, Airtel has built new 4G/3G capabilities in 7 circles. The Company has spent Rs. 10,340 cr towards enhancing data capacities in 15 circles. It has also spent Rs 321 cr towards completing some of the existing partial blocks in 4 circles, giving it a second Carrier for its future needs.

Meanwhile, shares of the company were trading at Rs 322.15 apiece, down 0.22 per cent from the previous close at 09:40 hours on BSE.

Read more about: bharti airtel
Story first published: Friday, October 7, 2016, 12:40 [IST]
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