Spectrum deal boosts Videocon Telecommunications' share price
Following the deal, Bharti’s 4G coverage will include 19 circles, up from the current 15.
According to Videocon Limited's filing with the Bombay Stock Exchange and the National Stock Exchange, as per the agreement, Videocon Telecommunication (VTL) will transfer to Bharti Airtel the rights to use 2x5 MHz spectrum in the 1800 MHz band allotted to VTL by the Government of India, Ministry of Communication & IT, Department of Telecommunication (DoT) for six circles, viz. Bihar, Gujarat, Haryana, Madhya Pradesh, Uttar Pradesh (East and West) through November 2012 auction.
On Mar 15, 2016, VTL and Idea Cellular Limited mutually terminated a similar contract signed in November 2015 regarding two circles, Gujarat and Uttar Pradesh (West).
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