Bharti Airtel will acquire Tikona Digital Networks Private Ltd’s 4G and broadband spectrums of some states for about Rs 1,600 crore to increase its footprint across India.
The deal comes days after the Idea-Vodafone merger deal that will create the country’s biggest telecom company.
Bharti informed stock exchanges the acquisition will “significantly” bolster Airtel’s spectrum holding in Gujarat and Himachal Pradesh to 30 mega hertz.
The country’s leading telecom service provider will also buy the broadband BWA airwaves in the 2,300 MHz band in Uttar Pradesh (East) and (West), and Rajasthan circles through its subsidiary Bharti Hexacom Ltd.
After the acquisition, Airtel will have 30 MHz in the 2,300 MHz band in 13 circles, the company said.