Airtel Pays Off Deferred Liabilities Of Rs 15,519 Crore
Bharti Airtel reportedly paid Rs 15,519 crore to the government to clear its deferred liabilities for spectrum acquired in the 2014 auction, on December 17. The company expects the pre-payment will help to save at least Rs 3,400 crore. Reportedly, it acquired the spectrum for Rs 19,051 crore. ''These liabilities were due in annual installments from FY 2026-2027 to 2031-2032 and carried an interest rate of 10%,'' said Airtel.
Tags: Airtel, Liabilities, Spectrum, Pre-payment, Telenor
Courtesy: United News Of India
Reliance Jio Turns Top Bidder At 4G Spectrum Sale; Spends Rs 57K Cr
Reliance Jio has become the top bidder at the 2021 4G spectrum auction by acquiring the 488.35MHz band for Rs 57,122.65 crore. Becoming the largest holder in 2300 MHz and sub-GHz spectrum, Jio increased its spectrum footprint by 55%. Similarly, Airtel and Vodafone-Idea have acquired 355.45 MHz and 11.80 MHz respectively, worth Rs 18,698.75 crore and Rs 1,993.40 crore. However, participants didn't bid for 700 MHz and 2500 MHz.
Tags: Jio, Reliance, Spectrum, 5G spectrum, Airtel, VODAFONE IDEA