India’s largest telecom service provider, Bharti Airtel, announced that it has entered into a definitive agreement with Tikona Digital Networks for acquiring Tikona’s 4G business in five telecom circles.
The acquisition is subject to required regulatory approvals. Tikona’s commercial operations of the LTE business are yet to start.
Along with the 4G business of Tikona, Bharti Airtel will also acquire the BWA spectrum in the 2300 MHz band in Uttar Pradesh East and West; and Rajasthan. The company would achieve a pan India footprint in the 2300 MHz band.
This acquisition will significantly bolster Airtel’s current spectrum, holding all the 5 circles, and specifically in Gujarat and Himachal Pradesh.
The indicative time period for completion of the acquisition is upto 60 days. The cost of acquisition stands at approximately Rs 1600 cr for the transaction.