Telecom operator Bharti Airtel has said that it has completed acquisition of Augere Wireless -- a company which holds one slot of 2,300 Mhz band spectrum in Madhya Pradesh circle.
"...The merger of Augere Wireless Broadband India Private Limited (Augere), a wholly-owned subsidiary into Bharti Airtel Limited (Airtel) has been completed," Bharti Airtel said in a BSE filing.
Augere holds 20 Mhz of spectrum in 2,300 Mhz band in Madhya Pradesh service area, which includes Chhattisgarh, to be used for 4G services. The company had won this spectrum for Rs 124.66 crore in 2010 but has not rolled out services.
On August 26, Airtel had signed a definitive agreement to acquire 100 per cent equity stake in Augere Wireless.
According to sources, the deal size is estimated to be around Rs 150 crore.
Airtel now has 20 Mhz in 2300 Mhz band across 17 service areas. The company's total spectrum holding across all band was 710 Mhz in December-end 2016.
The company directly won this spectrum in four service areas for Rs 3,314.36 crore. Later, it acquired Qualcomm's India unit which had spectrum in four circles including metros and of Aircel in eight telecom circles. – Business Standard