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.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.