In an indication of heightened competition for market share in the telecom sector, Bharti Airtel on Thursday said it will acquire 4G business of Tikona Networks, including broadband spectrum and 350 sites across 5 circles, for about Rs 1,600 crore.
“Bharti Airtel shall acquire the 4G busienss of Tikona” for “approximately Rs 1,600 crore for the transaction” , the company said in a regulatory filing.
According to firstpost.com
Tikona currently has 20 MHz spectrum in the 2,300 MHz band in Gujarat, UP (East), UP (West), Rajasthan and Himachal Pradesh circles.
With this acquisition, Airtel will be second company, after Reliance Jio, in the country to have pan-India presence in 2300 Mhz band — which has second largest ecosystem of 4G devices. The acquisition is expected to help Airtel to take on Jio more effectively.
“We believe that combining our capacities in TD-LTE (4G technology for 2300 Mhz band) and FD-LTE (technology for 1800 Mhz and other spectrum bands) will further bolster our network, and help us provide unmatched high-speed wireless broadband experience to our customers,” Bharti Airtel MD & CEO (India & South Asia) Gopal Vittal said.