Bharti Airtel to buy Tikona's 4G business for Rs 1,600 cr

Deal also includes acquisition of Tikona's 350 sites in five telecom circles

Telecom major Bharti Airtel today said it will acquire 4G business of Tikona Networks, including broadband spectrum and 350 sites across 5 circles, for about Rs 1,600 crore.

"Bharti Airtel shall acquire the 4G busienss of Tikona" for "approximately Rs 1,600 crore for the transaction" , the company said in a regulatory filing.

Tikona currently has 20 MHz spectrum in the 2,300 MHz band in Gujarat, UP (East), UP (West), Rajasthan and Himachal Pradesh circles.

With this acquisition, Airtel will be second company, after Reliance Jio, in the country to have pan-India presence in 2300 Mhz band -- which has second largest ecosystem