Bharti Airtel will acquire Videocon Telecom’s spectrum in six circles
Bharti Airtel will buy Videocon Telecom’s radio frequency spectrum in six circles for Rs.4,428 crore in yet another deal after the government liberalised the trading and sharing of scarce airwaves among operators.
“Bharti Airtel has entered into a definitive agreement with Videocon Telecommunications Limited to acquire, at an aggregate consideration of Rs.4,428 crore, the rights to use 2×5 MHz spectrum in the 1,800 MHz Band,” the company said.
Bihar, Haryana, Madhya Pradesh, Uttar Pradesh (East), Uttar Pradesh (West) and Gujarat are the mentioned six circles. December 18, 2032 is the spectrum allocation validity time in these circles.
Idea Cellular had terminated its spectrum trading agreement with Videocon Telecom for its Gujarat and Uttar Pradesh (West) circle and the following day Bharti Airtel took the deal. Bharti Airtel’s stocks were trading at Rs.348.40 per share in the BSE, up 2.58 percent, at 12.40 p.m.
Reliance Communications had already announced that it has signed a deal for trading and sharing of airwaves with Jio in the 800 MHz band, covering virtually the entire country. A roaming deal was also on the cards.