Telecom Ministry is learnt to have cleared the Rs.3,500-crore 4G spectrum trading deal between service providers Bharti Airtel and Aircel.
“The spectrum trading deal between Bharti Airtel and Aircel was cleared by the telecom minister on July 4,” an official source told PTI.
As on July 4, Law and IT Minister Ravi Shankar Prasad was in-charge of the Telecom Ministry as well. Bharti Airtel declined comment.
Acquire rights
Airtel has entered into an agreement with Aircel to acquire rights to use 4G spectrum of Aircel in eight telecom circles for Rs 3,500 crore.
These circles are Tamil Nadu, including Chennai, Bihar, Jammu and Kashmir, West Bengal, Assam, the North—East, Andhra Pradesh and Odisha.
“Airtel was asked to surrender 1.2 Mhz spectrum in Odisha circle for approval as it breached the spectrum cap limit (after taking into account Aircel’s spectrum). The company has surrendered 1.2 Mhz spectrum in 1800 Mhz before the deal was cleared,” the source said.
In a circle, no player can hold more than 25 per cent of the total spectrum allocated in that particular service area.
Activist lawyer Prashant Bhushan, in a letter on July 8, had demanded that CBI and ED immediately freeze spectrum held by Aircel, alleging that its Malaysian parent Maxis will “abscond” if the proposed deals with Airtel and RCom are allowed to go through.
The CBI has filed a detailed chargesheet against Aircel/Maxis and its Malaysian owner T Ananda Krishnan. Even ED has filed cases against them and attached properties of former telecom minister Dayanidhi Maran, but not that of Maxis, the letter said.
