Airtel acquires Tikona 4G LTE spectrum in four circles
Airtel said it has completed the acquisition of shares of Tikona the broadband internet service provider in India.
Key Highlights
- Airtel has acquired 4G spectrum of Tikona in Gujarat, UP (East), UP (West) and Himachal Pradesh.
- Transaction for its Rajasthan spectrum still awaits approval.
- Airtel-Tikona deal was valued at Rs 1600 crore.
India’s telecom major on Tuesday completed the acquisition of Tikona’s digital networks. The company said Tikona has now become a subsidiary of Airtel in a BSE filing.
"Bharti Airtel announced that has completed the acquisition of shares of Tikona Digital Networks. With the said acquisition of shares, Tikona Digital Networks has become a wholly owned subsidiary of Bharti Airtel," Airtel said.
Shares of the telecom operator rose 1.70 points or 0.40% to trade at Rs 430.10 intraday on BSE Sensex. Airtel’s shares opened at Rs 430 on Wednesday morning.
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