Bharti Airtel has successfully concluded the transaction entered in with Videocon Telecommunications (VTL) wherein the former will acquire rights for spectrum allotted to VTL. The transaction has been concluded on May 24, 2016, following all necessary approvals and satisfaction of all conditions.
On March 17, 2016, Bharti Airtel and Videocon Telecommunications entered into a definitive agreement, wherein, Airtel proposed to acquire, for an aggregate consideration of Rs 4,428 crore, the rights to use 2 x 5 MHz spectrum in the 1800 MHz Band allotted to VTL by the Government of India for six circles - Bihar; Gujarat; Haryana; Madhya Pradesh; UP (East) and UP (West).
Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks amongst the top 5 mobile service providers globally in terms of subscribers.
