New Delhi: The Department of Telecom has issued letter of intent to Bharti Airtel for taking new telecom licence in Delhi and Kolkata service areas, following which Vodafone may have to sell its about 4.4 per cent stake in a subsidiary of Bharti group.
“LoI (Letter of Intent) to Airtel was issued early last week for Delhi and Kolkata,” a DoT official told PTI. Licences of Airtel in Delhi and Kolkata are expiring in November this year and it will need Unified Licence (UL) for continuing operations. An UL, which is not bundled with spectrum, enables a firm to provide technology neutral telecom services.
As per the guideline, the one-time entry fee for UL is Rs 15 crore, excluding bank guarantees etc. Vodafone has to sell its entire stake in Airtel following new norms issued by government that bars a telecom operator from holding any kind of stake in competiting firms under Unified Licences.