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After Vodafone Idea, Bharti Airtel Opts For 4-Year Spectrum Payment Moratorium
Airtel office in Gurugram (Pradeep Gaur /Mint via Getty Images)
After Vodafone Idea (Vi), Bharti Airtel has accepted the deferred payment option provided in the telecom relief package rolled out by the central government last month, reports Economic Times.
As per the report, Bharti Airtel has confirmed to the Department of Telecommunications (DoT) its acceptance of the moratorium, however, it has not reverted to the equity conversion option yet.
Last week, Vi informed the government that it will accept the four-year spectrum payment moratorium.
“Vi has opted for the four-year spectrum moratorium and also sought details of the status of its BGs. Whether it opts for AGR moratorium and converts the interest on deferred payments into equity, will be told to DoT later,” an executive from the industry in the know of developments was quoted by the Economic Times.
Bharti Airtel chief Sunil Mittal said earlier that the company will opt for the four-year moratorium on spectrum and AGR payments, a move that will enable it to conserve a cash outgo of Rs 35,000-40,000 crore. He added that this money would be used for network and other capital expansion programmes.
Notably, the DoT had sent letters to telcos like Reliance Jio, Bharti Airtel and Vi last Friday and offered them time till 29th October to respond on the moratorium options.
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