New Delhi: In a first spectrum trading deal of the country, Idea Cellular today signed a pact with Videocon Telecommunications to buy its airwaves in Gujarat and Uttar Pradesh West for Rs 3,310 crore.
- Idea intends to use this spectrum for the launch of 4G services in these areas next year.
- Idea will also be taking over the outstanding liability of Videocon which it has to pay to government for these set of airwaves.
- Idea Cellular in a statement said it has entered into an agreement with Videocon Telecommunications Limited (Seller) for acquiring right to use spectrum, pursuant to the DoT.
- Guidelines for Trading of Access Spectrum by Access Service Providers (Guidelines) dated October 12, 2015 for the telecom service areas of Gujarat and Uttar Pradesh (West).
- Videocon had acquired spectrum in 1800 Mhz band, known as 2G spectrum in these two service areas for a total of Rs 1,329 crore in November 2012 and made upfront payment of Rs 438.57 crore to the government.
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