Bharti Airtel Ltd., India’s largest mobile phone operator, on 17 March 2016 announced the acquisition of Videocon Telecommunications Ltd’s entire spectrum for 4428 crore rupees.
It is the second such acquisition in India’s fragmented telecom sector after the Union Government allowed trading of airwaves in October 2015.
The deal gives Bharti Airtel the rights to use 2x5MHz spectrum in the 1800 megahertz (MHz) band in six licence areas, which are Bihar, Haryana, Madhya Pradesh, eastern Uttar Pradesh, western Uttar Pradesh and Gujarat.
After the deal, Bharti Airtel’s 4G coverage will go up to 19 circles from the current 15.
Now get latest Current Affairs on mobile, Download # 1 Current Affairs App
When: 17 March 2016
DISCLAIMER: JPL and its affiliates shall have no liability for any views, thoughts and comments expressed on this article.