Bharti Airtel and Vodafone charged over 2002 spectrum row
Indian police filed charges against Bharti Airtel and Vodafone’s Indian division on Friday over alleged corruption during the country’s highly controversial mobile airwaves auction a decade ago.
According to Reuters, the charges include criminal conspiracy, with A.K. Singh, a lawyer for the central bureau of investigation, saying no executives of the companies were charged, but a former telecoms minister official was charged.
Shares in Airtel dropped, and the company extended losses after the charges were filed.
Both companies have previously denied wrongdoing and have declined to comment.
The CBI investigation relates to irregularities in allocating mobile spectrum in 2002.