Bharti Airtel Dominates Spectrum Auction with Major Acquisition

Bharti Airtel has acquired 97 MHz of radio frequency for Rs 6,857 crore in a recent spectrum auction, making up 60% of the airwaves sold. Additionally, its subsidiary Bharti Hexacom secured 15 MHz for Rs 1,001 crore. The total auction value was Rs 11,340 crore.

Bharti Airtel has taken a notable step forward in the telecommunication sector by acquiring 97 megahertz of radio frequency for a reported Rs 6,857 crore. This acquisition constitutes approximately 60% of the total airwaves sold during the recent spectrum auction that concluded on Wednesday.

In a related development, Bharti Hexacom, a subsidiary of Bharti Airtel, secured an additional 15 MHz at a cost of Rs 1,001 crore, according to a formal statement from the company.

The spectrum auction, which wrapped up in mere hours on its second day, saw telecommunication companies purchasing airwaves worth Rs 11,340 crore. This figure represents just 12 per cent of the Rs 96,238 crore minimum valuation that the government had set.

Airtel specifically acquired 97 MHz across the 900 MHz, 1,800 MHz, and 2,100 MHz frequency bands for Rs 6,857 crore. This latest purchase adds significantly to Airtel's mid-band spectrum, further consolidating its leading position in this segment.

Gopal Vittal, Bharti Airtel's Managing Director and CEO, elaborated on the strategic importance of this acquisition. 'Airtel continues to judiciously acquire the right amount of spectrum to deliver the best possible experience to our customers. In this auction, we have bolstered our sub-giga hertz and mid-band holding, which will significantly improve our coverage, especially indoors,' Vittal stated.

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