Airtel enters into definitive agreement to acquire Videocon Telecom’s spectrum in the 1,800 MHz band

Bharti Airtel has entered into a definitive agreement with Videocon Telecom to acquire the latter’s spectrum in the 1,800 MHz band in six circles – Bihar, Haryana, Madhya Pradesh, Uttar Pradesh (East), Uttar Pradesh (West) and Gujarat – for Rs 44.28 billion. The transaction, however, is subject to regulatory approvals and fulfilment of the spectrum trading guidelines. The move comes after Idea Cellular and Videocon Telecom mutually agreed to terminate their Rs 33.1 billion spectrum trading deal for the Gujarat and Uttar Pradesh (West) circles.  Meanwhile, Videocon Telecom plans to use the proceeds received from the sale of its spectrum for buying fresh 3G spectrum in the 2100 MHz band in the Punjab circle. It also plans to partner with a VNO to monetise unused data spectrum capacity in the state.

 

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