Bharti Airtel pays Rs 8,325 cr towards 2015 spectrum auction liabilities
Mumbai: Telecom company Bharti Airtel on Tuesday said it has made a substantial financial move by making an advance payment of Rs 8,325 crores to the Department of Telecom (Government of India).
This prepayment has been made to cover a portion of the deferred liabilities linked to the spectrum obtained in the 2015 auction, with the disclosed interest cost being 10 percent, according to the company's filing on stock exchanges.
"Bharti Airtel (“Airtel”), one of India’s leading telecommunications service providers, today said that it has prepaid Rs. 8,325 crores to the Department of Telecom (Government of India) towards part prepayment of the deferred liabilities pertaining to spectrum acquired in auction of year 2015 which were at an interest cost of 10%," the company said.
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