To acquire rights to use spectrum in six circles for consideration of Rs 4428 crore
Bharti Airtel announced that Bharti Airtel ("Airtel" or the "Company") has on 16 March 2016 entered into a definitive agreement with Videocon Telecommunications (VTL) to acquire, at an aggregate consideration of Rs. 4428 crore, rights to use 2 x 5 MHz spectrum in the 1800 MHz Band allotted to VTL by the Government of India, Ministry of Communication & IT, Department of Telecommunication (DoT) on 05 April 2013 for six circles, namely, Bihar; Haryana; Madhya Pradesh; UP (East); UP (West) and Gujarat (Transaction), in terms of the Guidelines for Trading of Access Spectrum by Access Service Providers vide letter dated 12 October2015 issued by the WPC Wing of the DoT (Spectrum Trading Guidelines).The aforesaid Spectrum is valid upto 18 December 2032. 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.
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