The largest telecom firm of the country has acquired rights to use 2 x 5 MHz spectrum in the 1800 MHz Band allotted to Videocon for six circles namely, Bihar, Haryana, Madhya Pradesh, UP (East), UP (West) and Gujarat to be valid up to December 18, 2032.
Bharti Airtel has entered into an agreement to acquire Videocon's spectrum for Rs. 44,280 million.
The largest telecom firm of the country has acquired rights to use 2 x 5 MHz spectrum in the 1800 MHz Band allotted to Videocon for six circles namely, Bihar, Haryana, Madhya Pradesh, UP (East), UP (West) and Gujarat to be valid upto December 18, 2032.
Bharti Airtel, in a filing to the BSE, said, "The company on March 16, 2016 entered into a definitive agreement with Videocon Telecommunications Limited to acquire, at an aggregate consideration of Rs. 44,280 mn., rights to use 2 x 5 MHz spectrum in the 1800 MHz Band allotted to VTL by the Government of India, Ministry of Communication & IT, Department of Telecommunication (DoT) on April 05, 2013 for six circles, namely, Bihar; Haryana; Madhya Pradesh; UP (East); UP (West) and Gujarat (Transaction), in terms of the Guidelines for Trading of Access Spectrum by Access Service Providers vide letter dated October 12, 2015 issued by the WPC Wing of the DoT (Spectrum Trading Guidelines). The aforesaid Spectrum is valid upto December 18, 2032."
The top telco further said, "The closing of the Transaction is subject to satisfaction of the standard conditions (including conditions stated in the Spectrum Trading Guidelines), as are normal to such transactions."
The largest telecom firm of the country has acquired rights to use 2 x 5 MHz spectrum in the 1800 MHz Band allotted to Videocon for six circles namely, Bihar, Haryana, Madhya Pradesh, UP (East), UP (West) and Gujarat to be valid upto December 18, 2032.
Bharti Airtel, in a filing to the BSE, said, "The company on March 16, 2016 entered into a definitive agreement with Videocon Telecommunications Limited to acquire, at an aggregate consideration of Rs. 44,280 mn., rights to use 2 x 5 MHz spectrum in the 1800 MHz Band allotted to VTL by the Government of India, Ministry of Communication & IT, Department of Telecommunication (DoT) on April 05, 2013 for six circles, namely, Bihar; Haryana; Madhya Pradesh; UP (East); UP (West) and Gujarat (Transaction), in terms of the Guidelines for Trading of Access Spectrum by Access Service Providers vide letter dated October 12, 2015 issued by the WPC Wing of the DoT (Spectrum Trading Guidelines). The aforesaid Spectrum is valid upto December 18, 2032."
The top telco further said, "The closing of the Transaction is subject to satisfaction of the standard conditions (including conditions stated in the Spectrum Trading Guidelines), as are normal to such transactions."
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