Bharti Airtel Acquires Augere to Boost its 4G Presence in India
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To ramp up its 4G presence in the country, Bharti Airtel has acquired wireless broadband firm, Augere’s India operations, which holds 4G spectrum in Madhya Pradesh and Chhattisgarh. The company has signed a definitive agreement to acquire 100% equity stake in Augere. The deal amount is still undisclosed by both companies.
With this acquisition, Augere will become a wholly owned subsidiary of Airtel, and Bharti’s 4G services will now be available in over 300 cities and towns.
In 2013, Airtel had also acquired complete stake in Wireless Business Services (WBSPL), a company founded by US chip maker Qualcomm, which has 2300 MHz spectrum in Delhi, Mumbai, Kerala and Haryana. The company had bought similar spectrum in Punjab, Maharashtra, Kolkata and Karnataka in 2010 auctions.
In April, Airtel had launched an open marketing platform ‘Airtel Zero’, to offer free Internet access to customers. The platform will allow developers to make their entire mobile app free for customers. And, in March, it had allied with Vodafone for joint venture called FireFly Networks in order to offer WiFi services across the country.
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The stock of GMR Airports reached a 52-week high of Rs 94.30 on February 20, 2024, while it hit a 52-week low at Rs 40 on May 29, 2023.
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The Supreme Court on Friday told the Delhi government that it would consider listing its plea challenging the central government's law establishing pre-eminence of the lieutenant governor over the elected dispensation in controlling services in the national capital.
A bench comprising Chief Justice D Y Chandrachud and justices JB Pardiwala and Manoj Misra was urged by senior advocate Abhishek Singhvi, appearing for the AAP government, that the whole administration has come to a standstill and the matter needed to be heard.
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Cement maker ACC on Thursday said its profit after tax (PAT) increased four-fold to Rs 945 crore in the March quarter of the previous fiscal year on account of robust sales.
The company had reported a PAT of Rs 236 crore in the year-ago period.
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Nestle on Thursday missed first-quarter organic sales growth estimates, as the world's biggest packaged food company hiked prices and sold fewer products, particularly in North America.
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Shares of Hitachi Energy were buzzing in trade on Thursday as they soared as much as 18.89 per cent to hit a fresh record high of Rs 9,765.30 per share, driven by expansion plans. On the other hand, S&P BSE 500 was trading 0.21 per cent higher at 74,010.29 levels, as of 1:02 PM.
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