Airtel to acquire 400 MHz spectrum in 26 GHz band from Adani Data Networks Limited

Bharti Airtel Limited and its Subsidiary, Bharti Hexacom Limited ("Airtel" or "Company") have entered into definitive agreements with Adani Data Networks Limited (ADNL), a subsidiary of Adani Enterprises to acquire rights to use of 400 MHz of spectrum in the 26 GHz band in Gujarat (100 MHz), Mumbai (100 MHz), Andhra Pradesh (50 MHz), Rajasthan (50 MHz), Karnataka (50 MHz) and Tamil Nadu (50 MHz).

The closing of the transaction is subject to satisfaction of the standard conditions (including conditions stated in the Spectrum Trading Guidelines) and statutory approval(s).

Shares of Bharti Airtel Limited was last trading in BSE at Rs. 1852.00 as compared to the previous close of Rs. 1883.60. The total number of shares traded during the day was 1775637 in over 17165 trades.

The stock hit an intraday high of Rs. 1893.95 and intraday low of 1837.00. The net turnover during the day was Rs. 3283936961.00.

Source : Equity Bulls

Keywords

BhartiAirtel INE397D01024 TelecomServices BhartiHexacom Agreement AdaniDataNetworks 400MHz Spectrum 26GHzband