Bharti Airtel Limited Successfully Acquires Augere Wireless Broadband India Private Limited
Leading global telecommunications company Bharti Airtel Limited successfully acquired wireless broadband business Augere Wireless Broadband India Private Limited.Augere holds 20-Mhz spectrum in 2,300-Mhz band in Madhya Pradesh circle, including Chhattisgarh, to be used for 4G services. Notably, Augere won the spectrum for Rs. 124.66 crores in 2010. However, it did not roll out services....
Leading global telecommunications company Bharti Airtel Limited successfully acquired wireless broadband business Augere Wireless Broadband India Private Limited.
Augere holds 20-Mhz spectrum in 2,300-Mhz band in Madhya Pradesh circle, including Chhattisgarh, to be used for 4G services. Notably, Augere won the spectrum for Rs. 124.66 crores in 2010. However, it did not roll out services. Airtel had signed a definitive agreement in August 2016 for acquiring 100% equity stake in Augere. Therefore, Airtel now has 20-Mhz spectrum in 2300-Mhz band across 17 service areas.
Reportedly, the deal size is estimated to be approximately Rs. 150 crores.