Airtel goes one-up on Idea, buys Videocon's spectrum for Rs 4,428 cr

Just after Idea cellular ended the multi million dollar deal with Videocon, Bharti Airtel has announced that it will do a bandwidth trading deal to acquire Videocon Telecom's spectrum in six circles for Rs 4,428 crore. The states are Bihar, Haryana, Madhya Pradesh, UP (East), UP (West) and Gujarat, and the spectrum would be valid up to December 18, 2032.

"Bharti Airtel has entered into a definitive agreement with Videocon Telecommunications Limited to acquire, at an aggregate consideration of Rs 4,428 crore rights to use 2 x 5 MHz spectrum in the 1800 MHz Band," said Airtel in a notice to the Bombay Stock Exchange.

"The closing of the transaction is subject to satisfaction of the standard conditions, including conditions stated in the Spectrum Trading Guidelines," it added.

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