Airtel pays 5G spectrum dues for 4 years in upfront
Hindustan TimesTelecom operator Bharti Airtel on Wednesday said it has paid ₹8,312.4 crores to the Department of Telecom in upfront towards dues for spectrum acquired in the recently concluded 5G auctions. "The company believes that this upfront payment coupled with the moratorium on spectrum dues and AGR-related payments for four years will free up future cash flows and allow Airtel to dedicate resources to single-mindedly concentrate on the 5G roll out," the statement added. Over the past one year, Airtel has cleared ₹24,333.7 crores of its deferred spectrum liabilities "much ahead" of scheduled maturities, it said. With the ideal spectrum bank, best technology and adequate free cash flow, we are excited to bring to the country a world-class 5G experience," said Gopal Vittal, MD and CEO, Bharti Airtel.