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Publish Date : 19-Mar-2016

Bharti Airtel, Indias top telecom operator in terms of subscriber numbers, on Thursday has made an announcement on its plans to spend Rs 4,428 crore for the acquisition Videocon Telecoms radio frequency spectrum across six telecom circles of the country.

The announcement has been made following the Indian Governments move to liberalize the trading and sharing of sparse airwaves among telecom service providers.

In a statement filed with the regulators, the company disclosed, Bharti Airtel has entered into a definitive agreement with Videocon Telecommunications Limited to acquire, at an aggregate consideration of Rs 4,428 crore, the rights to use 25 MHz spectrum in the 1,800 MHz Band.

Previously, Reliance Communications (RCom) settled pact with Reliance Jio, the telecom arm of RIL, for trading and sharing of spectrum entailing almost the whole of India in the band of800 MHz.

The two telecom firms are also expected to sign a roaming agreement in the days to come.

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