Airtel goes one-up on Idea, buys Videocon's spectrum for Rs 4,428 cr
Advertisement
Advertisement
Advertisement
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.
Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More
Image source
Advertisement
- US-China tariff war could benefit several sectors in India while harming a few others
- Amid heatwave, Delhi's power demand soars to May's highest ever at 7,572 MW
- 84% of Indian small businesses anticipate robust growth in 2024: CPA Australia survey
- Go Digit IPO allotment – How to check allotment, GMP, listing date and more
- 10 breathtaking valleys to visit in India in 2024