A Bharti Airtel office building is pictured in Gurugram on the outskirts of New Delhi, India.(Reuters)
A Bharti Airtel office building is pictured in Gurugram on the outskirts of New Delhi, India.(Reuters)

Bharti Airtel buys airwaves worth $2.6 billion at spectrum auction

The carrier, led by billionaire Sunil Mittal, acquired 355.45 megahertz airwaves across multiple spectrum bands for 186.99 billion rupees ($2.55 billion), according to a statement from the company Tuesday.
Bloomberg |
PUBLISHED ON MAR 02, 2021 04:03 PM IST

Bharti Airtel Ltd., India’s second-largest wireless carrier by subscribers, will spend $2.6 billion acquiring new airwaves in an ongoing spectrum auction in India.

The carrier, led by billionaire Sunil Mittal, acquired 355.45 megahertz airwaves across multiple spectrum bands for 186.99 billion rupees ($2.55 billion), according to a statement from the company Tuesday.

The ongoing spectrum auction that raised 771.5 billion rupees as of Monday is a boost to the exchequer as the government tries to jump start the economy after the pandemic-induced recession last year. The newly acquired airwaves will also bolster Bharti’s telecom infrastructure.


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