Bharti Airtel to buy Videocon's spectrum for Rs 4,428 crore

Bharti Airtel has acquired spectrum in six regions for Rs 4,428 crore (Rs 44.28 billion) from Videocon Telecom, a subsidiary of Videocon Industries.

The company purchased rights to use the spectrum in 1,800 MHz band in Bihar, Haryana, Uttar Pradesh East and West, Madhya Pradesh, and Gujarat circles, a statement by Bharti Airtel said.

On Wednesday, Idea Cellular and Videocon Industries announced to terminate their November 2015 agreement in which Idea had acquired spectrum in Gujarat and Uttar Pradesh circles for Rs 3,310 crore (Rs 33.1 billion).