Airtel buys Videocon’s spectrum in six circles for Rs.4,428 crore | business | Hindustan Times
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Airtel buys Videocon’s spectrum in six circles for Rs.4,428 crore

Bharti Airtel and Videocon Telecommunications entered into a definitive agreement on March 17, wherein, Airtel proposed to acquire, for an aggregate consideration of Rs.4,428 crore, the rights to use 2x5 MHz spectrum in the 1800 MHz band allotted to Videocon by the government for six circles -- Bihar, Gujarat, Haryana, Madhya Pradesh, UP (East) and UP (West), the two companies said in a joint statement here.

business Updated: May 24, 2016 23:31 IST
Bharti Airtel and Videcon Telecommunications on Tuesday announced the conclusion of the spectrum purchase deal in six circles for Rs.4,428 crore.
Bharti Airtel and Videcon Telecommunications on Tuesday announced the conclusion of the spectrum purchase deal in six circles for Rs.4,428 crore.(Reuters Photo)

Bharti Airtel and Videcon Telecommunications on Tuesday announced the conclusion of the spectrum purchase deal in six circles for Rs.4,428 crore.

Bharti Airtel and Videocon Telecommunications entered into a definitive agreement on March 17, wherein, Airtel proposed to acquire, for an aggregate consideration of Rs.4,428 crore, the rights to use 2x5 MHz spectrum in the 1800 MHz band allotted to Videocon by the government for six circles -- Bihar, Gujarat, Haryana, Madhya Pradesh, UP (East) and UP (West), the two companies said in a joint statement here.

“Both parties are pleased to share that the proposed transaction has been successfully concluded on May 24, 2016 following all necessary approvals and the satisfaction of all the conditions,” it said.