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Govt clears Airtel-Aircel 4G spectrum deal

Spectrum trading deal between Bharti Airtel and Aircel was cleared by the telecom minister on July 4, a report said

Policy Pulse
Publish Date: Jul 10 2016 11:36AM | Updated Date: Jul 10 2016 11:36AM

Govt clears Airtel-Aircel 4G spectrum deal

 Telecom Ministry is believed to have given green signal to the Rs 3,500-crore 4G spectrum trading pact between Bharti Airtel and Aircel.

 
“The spectrum trading deal between Bharti Airtel and Aircel was cleared by the telecom minister on July 4,” an official was quoted as saying by PTI.
 
As per the report, Airtel has entered into deal with Aircel to acquire rights to use 4G spectrum of Aircel in eight telecom
 
In a  letter on July 8, activist lawyer Prashant Bhushan had suggested that CBI and ED immediately halt spectrum held by Aircel.
 
He alleged that its Malaysian parent Maxis will “abscond” if the proposed agreement with Airtel and RCom are allowed to go through.
 
CBI has filed a chargesheet against Aircel/Maxis and its Malaysian owner T Ananda Krishnan. 
 
The letter added that even ED has also filed cases against them and attached properties of former telecom minister Dayanidhi Maran, but not that of Maxis. 
 
Malaysia-based Maxis Communications holds 74 percent in Aircel while the rest 26 per cent is with Sindya Securities and Investments.
 
In August 2014, CBI had filed the chargesheet against Maran, alleging that he had entered into a conspiracy with Ananda Krishnan and “forced” telecom promoter C Sivasankaran to sell his stake in Aircel to Ananda Krishnan in lieu of investments by Maxis Group into Sun Direct TV (owned by Maran brothers).