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Bharti to acquire Tikona’s 4G unit for Rs 1,600 cr

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.

business Updated: Mar 23, 2017 18:00 IST
Raj Kumar Ray
Raj Kumar Ray
New Delhi, Hindustan Times
Bharti Airtel,Tikona,4G
File photo of Sunil Bharti Mittal, Chairman of Bharti Enterprises attends the World Economic Forum (WEF).(REUTERS)

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.

First Published: Mar 23, 2017 18:00 IST