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| Exchange Disseminated Time | Bharti Airtel Ltd has informed BSE that Bharti Airtel Limited ("Airtel" or the "Company") has on March 16, 2016 entered into a definitive agreement with Videocon Telecommunications Limited (VTL) to acquire, at an aggregate consideration of Rs. 44,280 mn., rights to use 2 x 5 MHz spectrum in the 1800 MHz Band allotted to VTL by the Government of India, Ministry of Communication & IT, Department of Telecommunication (DoT) on April 05, 2013 for six circles, namely, Bihar; Haryana; Madhya Pradesh; UP (East); UP (West) and Gujarat (Transaction), in terms of the Guidelines for Trading of Access Spectrum by Access Service Providers vide letter dated October 12, 2015 issued by the WPC Wing of the DoT (Spectrum Trading Guidelines). The aforesaid Spectrum is valid upto December 18, 2032.
The closing of the Transaction is subject to satisfaction of the standard conditions (including conditions stated in the Spectrum Trading Guidelines), as are normal to such transactions. |
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