Bharti Airtel to acquire Videocon`s 1,800 MHz spectrum for Rs 4,428 crore

Zee Media Bureau

New Delhi: India's biggest mobile phone operator, Bharti Airtel will acquire Videocon Telecom's 1,800 MHz spectrum for Rs 4,428 crore.

Earlier on Thursday, Idea Cellular Ltd , said it has called off its plan to buy telecom spectrum worth Rs 33.10 billion (USD 493 million) from smaller rival Videocon Telecommunications.

Idea, a unit of the Aditya Birla conglomerate, and nearly a fifth-owned by Malaysia`s Axiata , had ealier signed the deal last November to buy the radio airwaves in two service areas in the states of Gujarat and Uttar Pradesh for launching 4G services.