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Videocon Telecom

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Videocon Telecommunications Limited
Company typeLimited
IndustryTelecommunications
Founded2008
Defunct11 May 2016
FateShut down following sale of spectrum to Bharti Airtel
Headquarters
Gurgaon, Haryana
,
India
ProductsMobile
Telecommunication
ParentVideocon Group
Websitewww.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$400 million). By March 2016, Airtel offered to purchase spectrum in all six circles in which Videocon operated for ₹4,428 crore (US$530 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. {{cite web}}: Unknown parameter |deadurl= ignored (|url-status= suggested) (help)CS1 maint: archived copy as title (link)
  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
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