Bharti Airtel on Wednesday said it has signed a definitive agreement to acquire 100 percent stake in Augere Wireless Broadband India, which holds 20 MHz of broadband wireless access (BWA) spectrum in the Madhya Pradesh and Chhattisgarh telecom circle.
"Upon acquisition, Augere will become a wholly owned subsidiary of Airtel. The acquisition is subject to necessary statutory and regulatory approvals," Bharti Airtel said in a statement.
The company, however, declined to divulge the amount spent on acquisition.
The BWA technology helps in fourth generation (4G) connectivity. Currently, Bharti Airtel is going all out to expand its 4G footprint in the country.
In the telecom spectrum auction in 2010, Bharti Airtel bought 2300 MHz (meant for 4G connectivity) in Kolkata, Maharashtra, Punjab and Karnataka.
The company has also acquired Qualcomm's BWA licences in Mumbai, Delhi, Haryana, and Kerala circles and with the present acquisition, it can offer 4G services in 2300 MHz in nine circles.
The company's 4G services are now available in over 300 cities and towns.
