Airtel pays Rs 8,312.4 cr for 5G spectrum, settles 4 yrs' dues upfront


New Delhi, Aug 17 (IANS): Bharti Airtel on Wednesday said it has paid Rs 8,312.4 crore to the Department of Telecom (DoT) towards dues for spectrum acquired in the recently concluded 5G auctions.

Airtel said it has paid four years of 2022 5G spectrum dues upfront.

"This upfront payment of 4 years allows us to drive 5G rollout in a concerted manner given our operating free cash flow," said Gopal Vittal, MD and CEO, Bharti Airtel.

Airtel also has access to Rs 15,740.5 crore in capital from the rights issue which is yet to be called.

"With the ideal spectrum bank, best technology and adequate free cash flow, we are excited to bring to the country a world class 5G experience," Vittal added.

Over the last one year, Airtel has also cleared Rs 24,333.7 crore of its deferred spectrum liabilities much ahead of scheduled maturities.

According to the company, the upfront payment, coupled with the moratorium on spectrum dues and AGR-related payments for four years, will free up future cash flows and allow Airtel to dedicate resources to single-mindedly concentrate on the 5G roll out.

The Indian government sold 5G spectrum worth over Red 1.50 lakh crore, led by Reliance Jio, Airtel, Vodafone Idea and a unit of Adani Group.

 

  

Top Stories


Leave a Comment

Title: Airtel pays Rs 8,312.4 cr for 5G spectrum, settles 4 yrs' dues upfront



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.