Bharti Airtel, Idea Cellular, Tata Comm hit 52-week lows;Voda may pay Rs 7,200-cr spectrum

Idea and Vodafone are likely to pay Rs 7,268 crore spectrum dues to the department of telecommunications (DoT) ‘under protest’ in a few weeks, sources told CNBC-TV18.

Further, the report added that the companies could appeal in the Supreme Court against the dues charged by telecom regulator. Currently, the companies have agreed to pay the amount as they do not wish to delay merger process between the two firms.

For the said amount, Idea will give a bank guarantee of Rs 3,342 crore for the one-time spectrum charges. Meanwhile, Vodafone will pay Rs 3,926 crore in cash for non-auctioned airwaves that it holds.

DoT had demanded Rs 7,268 crore upfront payment towards dues it said that Vodafone India and Idea owe, in a conditional merger approval given two weeks ago.

The two telcos had flagged some alleged discrepancies in the figures and requested the DoT for recalculation of the dues.The merged entity is expected be India's largest telecom operator, with a subscriber base of around 430 million.

The two companies are however likely to keep the two brands separate and not rush into creating a new brand immediately after their merger.

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