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BRIEF-Bharti Airtel to acquire Tikona Networks' 4G business for 16 bln rupees
March 23, 2017 / 11:39 AM / 6 months ago

BRIEF-Bharti Airtel to acquire Tikona Networks' 4G business for 16 bln rupees

March 23 (Reuters) - Bharti Airtel Ltd:

* Says Bharti Airtel to acquire Tikona Networks’ 4G business

* Says post this acquisition, Airtel to have spectrum in 2300 mhz band across all circles

* Says Airtel to roll out high speed 4G services on new spectrum in five circles immediately after closure of transaction

* Says to acquire Tikona’s 4G business including broadband wireless access (“BWA”) spectrum and 350 sites, in five telecom circles

* Says to add 2300 mhz spectrum to portfolio in five circles

* Says combined spectrum holding of Airtel in these five circles will be within spectrum caps prescribed by government

* Says proposed acquisition will enable Airtel to fill BWA spectrum gaps in 2300 mhz band in Rajasthan, UP (East) and UP (West)

* Says post completion of deal, Airtel will have 30 mhz in 2300 mhz band in 13 circles

* Acquisition of 4G business in Gujarat, UP (East), UP (West) and Himachal Pradesh will be undertaken by Airtel

* Deal will bolster Airtel’s spectrum position in Gujarat and Himachal Pradesh, taking overall bwa spectrum holding to 30 mhz each in these circles

* Acquisition of 4G business in Rajasthan circle will be accomplished through Airtel’s subsidiary Bharti Hexacom Limited

* Says deal for about 16 billion rupees

* Says nature of deal in cash and debt Source text: bit.ly/2nUL0om Further company coverage:

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