India’s one of the leading telecom operators Bharti Airtel announced that it has completed acquisition of Augere Wireless — a company which holds one slot of 2,300 Mhz band spectrum in Madhya Pradesh circle.
“The merger of Augere Wireless Broadband India Private Limited (Augere), a wholly-owned subsidiary into Bharti AirtelLimited (Airtel) has been completed,” said Bharti Airtel in a BSE filing.
Augere manages 20 Mhz of spectrum in 2,300 Mhz band in Madhya Pradesh service area, which incorporates Chhattisgarh, which will be used for 4G services. The organization had won this spectrum for Rs 124.66 crore in 2010 however has not rolled out services.
On August 26, Airtel had signed a definitive agreement to acquire 100% equity stake in Augere Wireless.
According to sources, the deal size is estimated to be around Rs 150 crore.
Airtel now has 20 Mhz in 2300 Mhz band across 17 service areas. The organization’s total spectrum holding across all band was 710 Mhz in end of December 2016.
The organization directly won this spectrum in four service areas for Rs 3,314.36 crore. Later, it acquired Qualcomm’s India unit which had range in four circles including metros and of Aircel in eight telecom circles.
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Sameeksha Bhardwaj, From ITvoir News Desk