Telecom Ministry Clears Airtel-Aircel 4G Spectrum Trading Deal
According to agency reports, the Telecom Ministry is learnt to have cleared the Rs 3,500-crore 4G spectrum deal between leading service providers, Bharti Airtel and Aircel.
Airtel has entered into an agreement with Aircel to acquire rights to use 4G spectrum of Aircel in eight telecom circles for Rs 3,500 crore. These circles are Tamil Nadu, including Chennai, Bihar, Jammu and Kashmir, West Bengal, Assam, the North-East, Andhra Pradesh and Odisha.
After agreeing terms with Aircel, Airtel had to surrender 1.2 Mhz spectrum in Odisha circle as it lead to it breaching the spectrum cap limit in the state. In a circle, no player can hold more than 25 percent of the total spectrum allocated in that particular service area.
(With PTI Inputs)