Idea Cellular says not buying Videocon spectrum, terminates agreement with immediate effect

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Idea Cellular said that it has terminated its agreement with Videocon Telecommunication regarding ‘Transfer of Right to Use 1800 MHz Spectrum’ in two service areas. The decision was taken mutually by both the telecom operators.

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The telco, in a statement, said that no joint intimation of this Transfer Agreement for Right to Use Spectrum under Spectrum Trading Guidelines was filed with the telecom department (DoT), by the parties. “Also, there is no cost implication to Idea on termination of the aforesaid agreement,” the statement said.

On November 24, 2015, Idea’s board of directors allowed the company to enter into an acquisition agreement for right to use 1800 MHz spectrum of Videocon Telecommunications Limited (VTL), in the telecom service areas of Gujarat and U.P. (West) for an aggregate consideration of Rs 3,310 crores.

Idea owns 3G and/or 4G spectrum in 17 service areas representing 87% of its revenue (4G coverage 61% of revenue), and now offers high speed mobile broadband services (3G & 4G) in around 4,500 towns and 60,000 villages, enabling over 350 million Indian population.

Idea said that it continues to aggressively launch its high speed mobile broadband 4G LTE services. The company remains on track to launch 4G LTE services in 750 key towns across these 10 telecom circles latest by end of June 2016.

Idea today launched its 4G LTE services in the 10th telecom service area of Maharashtra & Goa, from Nagpur city. In a short span of 3 months, Idea has expanded its world class 4G LTE services in telecom service areas of Andhra Pradesh & Telangana, Haryana, Karnataka, Kerala, Madhya Pradesh & Chhattisgarh, Maharashtra & Goa, North East (NESA), Orissa, Punjab and Tamil Nadu, now covering over 350 cities and state capitals.

Reported By

Telecom Analyst

Passionately following the Indian #Telecom Industry for over a decade from Business, Consumer and a Technical perspective. My primary focus area is Consumer & Digital Experience.

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