City
Epaper

Airtel-Tikona merger: SC orders status quo on DoT's demand

By IANS | Updated: July 8, 2019 19:25 IST

The Supreme Court on Monday ordered status quo, for 15 days, on the Department of Telecom's (DoT) demand of Rs 1,626.89 crore for permitting the merger of Bharati Airtel with Tikona Wireless.

Open in App

A bench headed by Justice Arun Mishra asked both parties to move the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) for hearing the review petition.

"Go to TDSAT. We are not giving any opinion on the merits," the court said during the hearing of the matter.

Last week, the apex court agreed to hear the DoT's plea challenging the TDSAT order, staying its demand of Rs 1,626.89 crore from Bharti Airtel Ltd, on July 8.

The TDSAT order directed the authorities concerned (Centre) to take the merger of two companies and licence on record, and "subject to the final result of this petition, and this interim, shall govern the parties till it is vacated or modified after considering any further or new material, which maybe brought on record on behalf of the respondent".

The TDSAT had looked into Bharti Airtel's plea challenging the stand of DoT, demanding the sum for completion of the amalgamation of Bharti Digital Networks Pvt Ltd, formerly known as Tikona Digital Networks Pvt Ltd, with itself. The amalgamation was recently completed, said Bharti Airtel.

DoT had reportedly asked Airtel to pay Rs 185.62 crore in cash.

In March 2017, Airtel had come out with its decision to acquire the 4G business of Tikona Networks, which comprised of broadband spectrum and 350 sites across five telecom circles, and was estimated at about Rs 1,600 crore.

Tikona had second largest ecosystem of 4G devices in telecom circles in eastern and western UP, Rajasthan, Gujarat and Himachal Pradesh. It had 20 MHz spectrum in the 2,300 MHz band.

( With inputs from IANS )

Tags: AirtelBharti AirtelTikona NetworksArun Mishra
Open in App

Related Stories

BusinessMobile Recharge Set to Rise? Jio, Airtel and Vi May Increase Tariffs by 16–20% in 2026

BusinessVodafone Idea Shares Rise by 1% After Telecom Revenue Grows in Q2FY26

BusinessVodafone Idea Share Surge 10% on Reports of PMO Considering Relief Proposal for Debt-Ridden Telecom

TechnologyBSNL Launches 'All Rounder' Rs 599 Plan With 84-Day Validity, 3GB Daily Data and Unlimited Calling

BusinessIndian Stock Market Surges to Record Highs; Sensex Jumps 1,000 Points Led by Reliance and Airtel

कारोबार Realted Stories

Business2025 emerges as India's year of reforms, cuts and upgrades

BusinessIndia's capital markets expected to see Rs 4 lakh crore capital formation in 2026: Report

BusinessHeartfulness Sets Guinness World Record as 20 Million Participate in Global Meditation on World Meditation Day

BusinessSecret Ingredient's 2025: Redefining Hospitality through Story, Space and Strategy

BusinessPartnr Launches Mechanic-Tested Genuine Spare Parts for Indian Two-Wheelers