Bharti Airtel will buy 1,800 MHz band in Bihar, Haryana, Uttar Pradesh East and West, Madhya Pradesh, and Gujarat circles from Videocon Telecom for Rs 4,428 crore.
Earlier Idea Cellular and Videocon Industries had terminated their November 2015 agreement in which Idea had acquired spectrum in Gujarat and Uttar Pradesh circles for Rs 3,310 crore. This year's Budget levied service tax on spectrum trading, which led to Idea's cost going up by Rs 500 crore and they decided to terminate the transaction, according telecom industry sources.
Bharti @airtelindia to buy #Videocon 's six 1800 MHz circles for Rs 4,428 cr. pic.twitter.com/kacN8Y3Gvn— Press Release Watch (@PrReleaseWatch) March 17, 2016
Earlier Idea Cellular and Videocon Industries had terminated their November 2015 agreement in which Idea had acquired spectrum in Gujarat and Uttar Pradesh circles for Rs 3,310 crore. This year's Budget levied service tax on spectrum trading, which led to Idea's cost going up by Rs 500 crore and they decided to terminate the transaction, according telecom industry sources.
