Airtel to acquire Videocon's spectrum for $659 million
India’s Bharti Airtel is to acquire Videocon Telecom’s spectrum in six regions for $659 million (INR 44.28 billion).
The move – aimed at boosting Airtel’s 4G footprint – will enable the operator to cover 10MHz of 1.8GHz spectrum in Bihar, Haryana, Madhya Pradesh, East of Uttar Pradesh, West of Uttar Pradesh and Gujarat.
The spectrum is valid up to December 18, 2032. The transaction is subject to satisfaction of the standards conditions.
News of the acquisition comes a day after Idea Cellular and Videocon agreed to terminate a INR 33.1 billion spectrum trading agreement for the latter’s spectrum in the Gujarat and Uttar Pradesh (West) regions.