Telecom giant Bharti Airtel on Wednesday has announced the completion of its merger with Bharti Digital Networks Pvt. Ltd, formerly known as Tikona Digital Networks Pvt. Ltd. Airtel had declared in its acquisition of the 4G the business of Tikona in March 2017.
The merger also included acquisition of broadband spectrum and 350 sites across five different circles, for an approximate amount Rs 1,600 crore.
“The amalgamation of Bharti Digital Networks Private Limited with Bharti Airtel Limited has been completed today (Wednesday) upon the filing of a certified true copy of the order of the Hon’ble National Company Law Tribunal, New Delhi with the Registrar of Companies,” Airtel said in a  regulatory declaration.
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Tikona has a vast presence in the 4G segment and is the second largest ecosystem of 4G Devices in some major states, with 20 MHz spectrum in the 2,300-MHz band. These states include Gujarat, the densely populated eastern part of Uttar Pradesh, western Uttar Pradesh, Rajasthan, and Himachal Pradesh circles.
The investors showed excitement at the news as the shares of Bharti Airtel rose by 2 percent intraday early on May 30, 2019, after the company acquired Tikona Digital.