Bharti Airtel has prepaid Rs 3,626 crore to the Department of Telecom, clearing all its liabilities for spectrum acquired in 2016. This payment is part of the company's strategy to prepay spectrum dues with higher interest costs.
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New Delhi, Dec 19 (PTI) Bharti Airtel has prepaid Rs 3,626 crore to the Department of Telecom to clear all its liabilities for spectrum it had acquired in 2016, the company said on Thursday.
With this payment, Bharti Airtel has now prepaid all its spectrum dues that had interest costs higher than 8.65 per cent, the company said in a statement.
"Bharti Airtel has prepaid Rs 3,626 crore to the Department of Telecom (Government of India) clearing all its liabilities for spectrum it had acquired in 2016," the statement said.
Airtel has prepaid a total of Rs 28,320 crore of spectrum liabilities this calendar year, the company said.
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