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Bharti Airtel has obtained the rights to utilize Aircel's Odisha circle, with which it finished rights to utilize 4G wireless transmissions of Aircel in seven out of eight circles in the spectrum trading deals between the organizations.
"The acquisition of rights to use 20MHz 2300 Band BWA spectrum from Aircel, Bharti Airtel 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)," a regulatory filing by the company said on Thursday.
Bharti Airtel declared on April 8 it has gone into a complete concurrence with Aircel to procure its 4G wireless transmissions in eight circles for Rs. 3,500 crores through a spectrum trading deal.
"With this, the company has completed the transaction in 7 out of 8 circles namely Tamil Nadu (including Chennai); Bihar, Jammu & Kashmir, West Bengal, Assam, North East and Odisha," the filing with the BSE said.
The eight circles are Tamil Nadu (including Chennai), Bihar, Jammu and Kashmir, West Bengal, Assam, North East, Andhra Pradesh and Odissa.
The range is valid until September 20, 2030.
"Bharti Airtel and its subsidiary, Bharti Hexacom have entered into a definitive agreement with Aircel and its subsidiaries Dishnet Wireless and Aircel Cellular to acquire rights to use 20MHz of 2300 band 4G spectrum for eight circles for an aggregate consideration of Rs. 3,500 crores," the company earlier said in a statement.
With this obtaining, the company will turn into a pan-India 4G operator, the announcement included.
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