The telecom service provider – Swan Telecom has reportedly completed the acquisition of Allianz Infratech, the firm licensed to launch telecom services, and the Department of Telecommunications (DoT) has approved the deal.

Swan Telecom, which is 45% owned by the UAE’s Emirates Telecommunications Corporation (Etisalat), has reportedly gained no objection certificate (NOC) from the Department of Telecommunications (DoT) for the deal. The DoT has asked Swan to submit a fresh proposal for the merger, after the High Court or Competition Commission approves the deal. However, the telecom companies have not yet disclosed the financial details of the deal.    

Allianz Infratech has been licensed to operate in two circles, while Swan Telecom is currently operating in Madhya Pradesh and Bihar. Swan has been licensed for 13 of calling regions of India. Swan will get access to the 4.4MHz of spectrum allocated to Allianz, according to the deal. Initially, Allianz Infratech ahd applied for a pan-India licence, but the application was turned down because its net worth was less than the declared INR13.5 billion (USD284 million). Swan Telecom is expected to start its services shorly this year, as it has contracted Swedish hardware vendor Ericsson to help install its network.