Airtel says to acquire Videocon spectrum in six circles for Rs 4428 crore

By March 17th, 2016 AT 11:48 AM

Bharti Airtel, the country’s largest telecom operator, will acquire Videocon Telecom’s spectrum in six circles–Bihar, Haryana, Madhya Pradesh, UP (East), UP (West) and Gujarat– for Rs 4,428 crore, through a bandwidth trading deal, the company said in a notice to the Bombay Stock Exchange.

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The move comes a day after Idea Cellular terminated its spectrum trading agreement with Videocon Telecom for the latter’s Gujarat and UP West circles, signed for Rs 3310 crore in November last year.

“Bharti Airtel has entered into a definitive agreement with Videocon Telecommunications Limited to acquire, at an aggregate consideration of Rs. 44,280 ?million, rights to use 2 x 5 MHz spectrum in the 1800 MHz Band,” Airtel ??said in a notice to the Bombay Stock Exchange.

The spectrum is valid up to December 18, 2032. Airtel said that the closing of the transaction is subject to satisfaction of the standard conditions, including conditions stated in the Spectrum Trading Guidelines.

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BibhuKaushik RoyJahangeer AlamRhishavamit Recent comment authors
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Bibhu
Bibhu

Those who were Saying R jio will start from mar 16 will have to wait upto 31st.

Kaushik Roy
Kaushik Roy

airtel should not become bankrupt. Its debt is increasing day by day

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