Videocon Telecom

Videocon Telecommunications Limited
Limited
Industry Telecommunications
Fate Shut down following sale of spectrum to Bharti Airtel
Founded 2008
Defunct 11 May 2016
Headquarters Gurgaon, Haryana, India
Products Mobile
Telecommunication
Parent Videocon Group
Website www.videocontelecom.com

Videocon Telecommunications Limited, formerly Videocon Mobile Services, was an Indian cellular service provider that offered GSM mobile services in India under the brand name Videocon. The company was a subsidiary of the Videocon Group, and was headquartered at Gurgaon, Haryana.[1] Videocon launched its services on 7 April 2010 in Mumbai. At its peak, Videocon held licences to provide mobile services in 18 out of 22 telecom circles of India. However, Videocon launched commercial services only in 11 out of the 18 circles it held licences in. Following the 2G spectrum scam, the Supreme Court cancelled 122 licences issued by the Indian Government in 2008, including 21 licences belonging to Videocon.

In the 2012 spectrum auction, Videocon won back licences in 6 circles.[2] On 16 March 2016, Videocon sold its spectrum in all six circles it operated in to Bharti Airtel. Videocon shut down its network and discontinued operations in the Gujarat and UP (West) circles on 26 December 2015, and in the Haryana, Madhya Pradhesh, Bihar and UP (East) circles on 11 May 2016, exiting the telecom sector.

Sale of spectrum

In November 2015, Videocon entered into an agreement with Idea Cellular to sell its spectrum in Gujarat and Uttar Pradesh (West) for ₹3,310 crore (US$490 million). By March 2016, Airtel offered to purchase spectrum in all six circles in which Videocon operated for ₹4,428 crore (US$660 million). Videocon had been looking to exit the telecom sector for some time, and on 16 March 2016, Airtel announced that it had entered into a definitive agreement with Videocon (subject to standard regulatory approvals) to purchase 2 x 5 MHz spectrum in the 1800 MHz Band in all six circles that Videcon had been allotted by the government.[3][4][5]

On 24 May 2016, Airtel announced that the deal had successfully been completed.[6][7]

References

  1. ↑ "Archived copy". Archived from the original on September 21, 2013. Retrieved September 20, 2013.
  2. ↑ Videocon To Shut Down GSM Operations in 11 Circles Including Mumbai, Asks Customers To Port Out Before 18 January TelecomTalk.info
  3. ↑ http://www.livemint.com/Companies/L1eAzAqVxi0JpIwpyMY0IJ/Bharti-Airtel-buys-spectrum-rights-from-Videocon.html
  4. ↑ http://telecom.economictimes.indiatimes.com/news/airtel-to-acquire-videocon-spectrum-in-6-circles-for-rs-4428-crore-to-take-on-reliance-jio/51437812
  5. ↑ http://www.hindustantimes.com/business/bharti-airtel-buys-videocon-telecom-for-rs-4-428-cr/story-XGcneXTBAbCK8WUYeKoVwN.html
  6. ↑ http://timesofindia.indiatimes.com/tech/tech-news/Airtel-completes-acquisition-of-Videocons-spectrum-in-six-circles/articleshow/52430649.cms
  7. ↑ http://gadgets.ndtv.com/telecom/news/airtel-completes-deal-to-acquire-videocon-telecoms-spectrum-in-6-circles-841637

External links

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