BIG move by Sunil Mittal as Airtel to acquire Gautam Adani's company's entire...

Indian billionaire Sunil Mittal, who runs the second-largest telecom company in India, continues to expand his business empire. The billionaire runs Bharti Airtel, which competes with Mukesh Ambani's Reliance Jio. Now, Bharti Airtel has announced that the company, along with its subsidiary Bharti Hexacom Limited, will acquire rights to use the entire 400 megahertz spectrum of Adani Data Networks (ADNL), a subsidiary of Adani Enterprises of billionaire Gautam Adani. ADNL had acquired 400 Mhz spectrum in 26 gigahertz band for about Rs 212 crore through an auction held in 2022.

"Bharti Airtel Limited and its subsidiary Bharti Hexacom Limited have entered into definitive agreements with Adani Data Networks Limited (ADNL), a subsidiary of Adani Enterprises, to acquire rights to use of 400 MHz of spectrum in the 26 GHz band in Gujarat (100 MHz), Mumbai (100 MHz), Andhra Pradesh (50 MHz), Rajasthan (50 MHz), Karnataka (50 MHz) and Tamil Nadu (50 MHz)," the statement said.

Airtel is the second-largest telecom firm in the country with a market cap of Rs 11.11 lakh crore, as of April 22. The share price of the company closed at Rs 1,848.20 on Tuesday. Its founder, Sunil Mitta, is one of the richest men in India with a net worth of USD 13.8 billion, as per Forbes. Airtel topped the chart in new subscriber additions in January 2025 across wireline and mobile segments, according to a Trai report released on Monday. Airtel led the growth in mobile and wireline segment with net addition of 16.53 lakh and 1.17 lakh customers, respectively, in January.

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