Bharti Airtel to acquire Videocon’s spectrum in 6 circles for Rs 4,428 crore

Bharti Airtel on Thursday said that it will acquire Videocon Telecom’s spectrum in six circles for Rs 4,428 crore through a bandwidth trading deal. “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 2x5MHz spectrum in the 1800MHz Band,” India’s largest telecom company, said in a notice to the Bombay Stock Exchange.

Bharti will acquire rights to use Videocon’s spectrum in Bihar, Haryana, Madhya Pradesh, UP (East), UP (West) and Gujarat. The spectrum is valid up to December 18, 2032.

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