Videocon Telecom to sell spectrum to Idea Cellualr for Rs.3,310 crore

New Delhi, Nov 24 (IANS) Idea Cellular has entered into an agreement with Videocon Telecommunications for acquiring the rights to use the latter’s spectrum for the telecom service areas of Gujarat and Uttar Pradesh (West) for Rs.3,310 crore through a spectrum trading agreement, a statement said here on Tuesday.

“This agreement for Idea’s two Leadership telecom circles is for a quantum of 2×5 MHz contiguous blocks of 1800 MHz in each service area, with right to use spectrum until December 2032, which Idea Cellular intends to use for deployment of 4G (LTE) services in these service areas,” Idea Cellular said in the statement.

The transaction will be effective only after completion of the due diligence related to the spectrum, and written confirmation by Department of Telecommunications (DoT) on the transfer of right to use spectrum to Idea Cellular.

“Idea intends to use this acquired spectrum for launch of 4G (LTE) Mobile Broadband Services in the service areas of Gujarat and Uttar Pradesh (West). With this spectrum trading arrangement, Idea’s 4G (LTE) spectrum footprint will expand to 12 service areas covering over 75 percent of Idea’s current revenue,” it said.

After completion of this transaction, Idea would have full range of mobility services across 2G, 3G and 4G technologies in all of its eight markets of Maharashtra and Goa, Kerala, Andhra Pradesh and Telengana, Madhya Pradesh and Chhattisgarh, Haryana, Punjab, Gujarat and Uttar Pradesh (West).

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here