Begin typing your search above and press return to search.
Why Assange threatens the American dream?
access_time 2021-01-26T16:29:53+05:30
The big political stick called CBI
access_time 2021-01-26T13:39:50+05:30
Why the outcry after installing Apps?
access_time 2021-01-25T16:46:01+05:30
Two mind-sets: one here,  the other there
access_time 2021-01-20T13:57:46+05:30
DEEP READAll arrow_drop_down
How the nation treated the memories of Ambedkar
access_time 2021-01-26T12:02:34+05:30
Anti-Conversion Law: A law meant for abuse
access_time 2021-01-12T13:56:35+05:30
Syed Shahriyaar
access_time 2021-01-05T19:08:46+05:30
Reading A week in the life of Svitlana
access_time 2020-12-23T12:06:42+05:30
Hum Dekhenge- One year of Anti-CAA protests
access_time 2020-12-22T17:35:06+05:30
Homechevron_rightBusinesschevron_rightAirtel gets high court ...

Airtel gets high court approval for merger of 4G arm

Airtel gets high court approval for merger of 4G arm

New Delhi: Telecom major Bharti Airtel Friday said it has got approval from the Bombay High Court for amalgamating 4G spectrum holding firm Airtel Broadband Services with the company.

The court on April 11, 2014 has approved the scheme of the amalgamation of Airtel Broadband Services (ABSPL), formerly known as Wireless Business Services Pvt Ltd a wholly owned subsidiary with the company, Bharti Airtel said in a filing to the BSE.

Airtel, in October 2013, acquired fully Wireless Business Services (WBSPL), a company founded by US chipmaker Qualcomm, by purchasing the rest 51 per cent stake for an estimated cost of about Rs 1,000 crore.

This company was later named as Airtel Broadband Services.

The telecom major had acquired a 49 per cent stake in WBSPL in May 2012 for USD 165 million.

ABSPL has spectrum that can be used for high-speed 4G services in New Delhi, Mumbai, Haryana and Kerala. Airtel has the similar spectrum in Punjab, Maharashtra, Kolkata and Karnataka.

Airtel has already launched 4G services in Bangalore, Pune, Kolkata, Chandigarh, Mohali and Panchkula.

Shares of the Airtel closed at Rs 321.1 a piece, up by 0.45 per cent, at BSE today.


Show Full Article
Next Story