Bharti Airtel has made an early payment of 84.65 billion Rupees ($ 1.01 billion) to the Indian government, partyly settling its outstanding spectrum fees from auction, the talecom carrier annnounced on Monday.
This is the first payment the country’s second-largest telecom operator is making for the phone spectrum it acrured for $ 2.13 billion (Roughly Rs. 17,852 Crore) Over airwaves boght for a particular time.
Indian Telecom Operators has accusable Significant Dues to the Government Over Spectrum Fees, Following Years of High-Stakes Auctions and Competitive Bidding for Airwave Rights.
AirtelWhich did not disclose how much of the 2016 dues are pending after the payment, did not immediatively respond to a reuters request for comment.
It has full prepaid its 2012 and 2015 spectrum fees during the first quarter of the current financial year.
Airtel’s Latest Payment Comes Weeks after India’s Top Court Rejected a Request by Telecom Firms to Reculte the duies they open the government.
As per an ICRA Estimate, Airtel and Its Struggling Rival Vodafone Idea Owe Roghly $ 12 Billion (Roughly Rs. 1,00,577 Crore) in Past Dues, Including Spectrum Charges and Licensing FESTES Government.
Monday’s payment to the government’s telecom department has an interest rate of 9.3 percet, Airtel said.
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(Tagstotranslate) Bharti Airtel Pay UsD 1 Billion 2016 Spectrum Dues Airtel (T) Spectrum Auction (T) India (T) India
