Idea India on Spectrum Shopping Spree
Idea India buys spectrum in readiness for 4G digital content services to compete with the likes of Jio.
Times of India reports that in the first spectrum trading deal of the country, Idea Cellular has signed a pact with Videocon Telecommunications to buy its airwaves in Gujarat and Uttar Pradesh West for Rs 3,310 crore.
Idea said it intends to use this spectrum for the launch of 4G services in these areas next year. Along with the right to use spectrum, 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)."