Videocon to Sell 4G Spectrum to Telenor - Report
Telenor is in talks to acquire Videocon Telecom's 4G spectrum in the Uttar Pradesh (East) and Bihar circles.
UK, December 2, 2015 (Newswire.com) - Telenor is in talks to acquire Videocon Telecom's 4G spectrum in the Uttar Pradesh (East) and Bihar circles, The Economic Times reports, citing unnamed sources with knowledge of the matter. The deal is valued at around INR 35 billion. Telenor plans to use this spectrum to launch 4G services on the local market.
Videocon Telecom's Chief Executive Arvind Bali declined to provide company names, but he confirmed that "a leading foreign telecom carrier had emerged the prime contender" for the company's total 10 MHz of airwaves in the 1800 MHz band in Uttar Pradesh (East) and Bihar circles. "Videocon is looking at a spectrum valuation of Rs 3,500-4,000 crore in these two circles, which will obviously be the most important aspect before finalizing a deal", Bali added.
On 25 November, Videocon agreed to sell spectrum to Idea Cellular. For INR 33.1 billion, Videocon would transfer to Idea Cellular rights to use 2x5 MHz of spectrum in the 1800 MHz frequency band for the Gujarat service area and UP (West) service area.
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