Airtel to conserve Rs 40,000 crore cash through moratorium

NEW DELHI: A day after the government announced a mega bailout package for the telecom industry, Bharti Airtel chief Sunil Mittal said the company will opt for the four-year moratorium on spectrum and AGR payments, which will help it conserve a cash outgo of Rs 35,000-40,000 crore that would be used for network and other capital expansion programmes.

“Overall cash flows of the government has to be invested back in the country and industry. It has to be utilised. There will be no dividend from this,” said Mittal.

Mittal also pitched greater collaboration between various telecom companies on the front of infrastructure — such as fibre, spectrum and towers — so that a strong network can be built for consumers.