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Idea called off Videocon deal to buy 4G spectrum through auctions instead

Idea Cellular decided not to pursue its 4G  spectrum trading deal with Videocon Telecom as it thought it would be better to acquire spectrum through auctions, Himanshu Kapania, CEO of Idea Cellular told analysts in a call. "Post our deal announcement the TRAI announced the total quantum of spectrum that will be available and  prices of the spectrum. We realized that it is better for the company to go through the spectrum auction rather than to do the trading as it had been earlier envisaged," he added. Idea was supposed to buy 1800 MHz band in two key circles – Maharashtra and Uttar Pradesh (West) – for Rs 3310 crore. However, the agreement was called off by Idea and rival Bharti Airtel acquired spectrum in the 1800 MHz band for Rs 4428 crore across six circles including Bihar, Gujarat, Madhya Pradesh, UP (East) and UP (West), both companies. Will buy 4G spectrum when needed: Kapania also said that Idea would buy 4G spectrum in tranches as and when the company needs to buy. "They can decide how much quantum they would like to procure. There is no hurry to be able to buy spectrum upfront," he added. In April,  TRAI offered an alternative payment structure to reduce any financial burden for 700 Mhz. For the upcoming auctions, telcos could first pay 10% of the bid amount; the balance 90% could be paid over 18 years with 18 equal annual installments, along with interest. The telecom regulator has upheld the it’s pricing of Rs 11,845 crore for…

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