Home
Telecom
Telecom News
Airtel Acquires Stake in Augere Wireless, Gains 4G Spectrum in Madhya Pradesh

Airtel Acquires Stake in Augere Wireless, Gains 4G Spectrum in Madhya Pradesh

By Press Trust of India | Updated: 29 December 2015 18:19 IST

Telecom major Bharti Airtel Tuesday said it has acquired 74 percent stake in Augere Wireless, which holds 4G spectrum in Madhya Pradesh, but did not disclose financial details of the deal.

"With reference to the intimation regarding approval of scheme of amalgamation of Augere Wireless Broadband India Private Limited (Augere) with Bharti Airtel Limited (Airtel or the Company) dated October 27, 2015, Bharti Airtel Ltd has now informed BSE that Airtel has acquired 74 percent capital of Augere," Airtel said in a regulatory filing.

Augere holds 20 MHz of spectrum in 2300 MHz band in Madhya Pradesh service area, which includes Chhattisgarh state, to be used for 4G services. The company had won this spectrum for Rs. 124.66 crores in 2010 but has not rolled out services.

"With the aforesaid acquisition, Augere has become a subsidiary of Airtel," the filing said.

On August 26, Airtel said that "it has signed a definitive agreement to acquire 100 percent equity stake in Augere Wireless Broadband India Pvt Ltd".

According to sources, the deal size is estimated to be around Rs. 150 crores.

Airtel now has 20 MHz in 2300 MHz band across nine service areas. The company has directly won this spectrum in four service area for Rs. 3,314.36 crores. Later, it acquired Qualcomm's India unit which had spectrum in four circles including metros.

Infotel Broadband, which was acquired by Reliance Industries, was the only bidder to win spectrum on pan-India basis in the 2300 MHz band in that auction.

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.