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Airtel prepays in full deferred liabilities from 2012, 2015 auctions

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Bharti Airtel has announced that it has prepaid all its deferred liabilities for spectrum acquired in auctions in 2012 and 2015. The prepayment included a sum of ₹7,904 crore. This move is expected to save costs for the company, as it was paying high interest rates. Airtel had acquired spectrum in previous auctions which had liabilities due in annual instalments with an interest rate of 10%. Earlier this year, Airtel prepaid ₹8,325 crore to clear part of its deferred liabilities for the spectrum acquired in 2015.