India's largest telecom operator Bharti Airtel today informed the Telecom Department that it has initiated the process of merging Tikona Digital Networks with itself.
In a letter to the Department of Telecom, the company said that it has recently acquired 100 per cent share capital of Tikona Digital.
"Subsequently, Tikona Digital Networks has become a wholly owned subsidiary company of Bharti Airtel," the company said.
The company, in a regulatory filing earlier this week, had said the "transaction for trading of spectrum in Rajasthan circle is still pending for approval from the DoT".
Airtel, in March this year, announced its decision to acquire 4G business of Tikona Networks, including broadband spectrum and 350 sites across five circles, for about Rs 1,600 crore.
Tikona had 20 MHz spectrum in the 2,300 MHz band (which has the second largest ecosystem of 4G devices) in Gujarat, UP - East, UP - West, Rajasthan and Himachal Pradesh circles.
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