The largest mobile operator in India, Bharti Airtel has entered into an agreement with Videocon to acquire critical wireless spectrum from the company in six circles for Rs. 44,280 million, making it the largest holder of 4G spectrum in the country.
The acquisition of 60MHz (2 x 5 MHz) spectrum in the 1800 MHz Band which covers Bihar, Haryana, Madhya Pradesh, UP (East), UP (West) and Gujarat grants Airtel a total of 700 MHz of 3G/4G pan-India spectrum. This will also enable Airtel to expand its 4G service in 19 circles in the country.
The spectrum band was allocated to Videocon by the Department of Telecommunication (DoT) of the Ministry of Communication & IT in 2013.
"The closing of the transaction is subject to satisfaction of the standard conditions (including conditions stated in the Spectrum Trading Guidelines), as are normal to such transactions," Bharti Airtel said in a statement.