Bharti Airtel acquires Videocon’s spectrum in six circles for Rs 4,428 crore
Bharti Airtel today announced that it had entered into a definitive agreement with Videocon to acquire the rights to use 1800 MHz spectrum in six circles for Rs 4,428 crore.
The development comes a day after Idea Cellular had called off its agreement with Videocon. Idea had agreed to pay Rs 3,300 crore for spectrum in two circles.
The six circles where Bharti gets access to 1800 MHz spectrum are Bihar, Haryana, Madhya Pradesh, UP (East), UP (West) and Gujarat (Transaction). The spectrum is valid up to December 18, 2032.
Bharti needed the additional spectrum in Haryana and Bihar circles. The acquisition will give Bharti the ability to offer high-quality data services. The company has strongest spectrum holdings in the industry today other than Reliance Jio. It has 18% spectrum of the total airwaves available in the country.