Videocon to bid for 900 MHz spectrum band in Delhi
Videocon Telecom on Monday said it plans to bid for spectrum in 900 Mhz band for Delhi in the upcoming auction and has appointed Deloitte to evaluate the opportunity and present a business case on the same.
New Delhi: Videocon Telecom on Monday said it plans to bid for spectrum in 900 Mhz band for Delhi in the upcoming auction and has appointed Deloitte to evaluate the opportunity and present a business case on the same.
"Videocon Telecom finds the sharp cut in the reserve spectrum floor price for the 900 Mhz spectrum to be very attractive and is seeing it as a big opportunity. The brand is evaluating to bid for the 900 Mhz licence in Delhi in the upcoming January 2014 auction," the company said in a statement.
It has appointed Deloitte to evaluate the opportunity and present a business case on the same, the statement added.
Videocon's 21 licences were among the 122 permits quashed in the 2G case by the Supreme Court on February 2, 2012. It had acquired permits to operate across all circles in 2008.
In November 2012, Videocon won spectrum in six telecom circles ? Bihar, Gujarat, Haryana, Madhya Pradesh, Uttar Pradesh East and West ? for Rs 2,221.44 crore.
The company now has spectrum in seven circles, but offers services only in Punjab, Haryana, Madhya Pradesh/Chattisgarh and Gujarat circles. It plans to launch services in the remaining circles in 2-3 months.
"Delhi telecom circle is of utmost importance to us, both strategically and potentially, and the fact the Delhi licence will be available on 900 Mhz spectrum completely fits in our strategic framework," Videocon Telecom Director and CEO Arvind Bali said.
He added that 900 Mhz is more efficient spectrum and that a liberalised licence regime allows the company to offer next generation data service.
Bali said Delhi is the business hub, and is the world's second most populous and the largest city in India in terms of area.
"All these factors make it a no-brainer. We are keen to participate in the upcoming auction and bid for the 900 Mhz licence for Delhi, and we have appointed one of the leading consulting firms Deloitte to evaluate and present to us a business case for the same," he added.