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Defunct Indian telco Aircel’s spectrum to go up for sale soon
- Tuesday | 23rd June, 2020
Asset Reconstruction Co. Ltd (UVARCL) is reinitiating talks with potential buyers to sell defunct telco Aircel’s spectrum in the 1800 MHz and 2100 MHz bands. The asset reconstruction company, which recently got approval from India’s National Company Law Tribunal (NCLT) on Aircel’s insolvency resolution plan to take over the telco and its two units with a 74% stake. In its resolution plan, UVARCL informed India’s NCLT that spectrum in the 1800 MHz and 2100 MHz bands could fetch Rs 800-1300 crore ($105.26-$ 171.05 million). Aircel had previously told the NCLT that the spectrum was worth Rs 1,100-2,000 crore ($147million-$267 million). The initial plan was to recover Rs 5000 crore -Rs 6000 crore ($667million-$800 million) against Rs 20,000 crore ($2.67 billion).
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