Telenor ahead in race to snap up Videocon 4G; deal talks confirmed by Videocon

Industry:    November, 2015

KOLKATA: Norway’s Telenor has emerged the frontrunner to buy VideoconBSE 0.00 % Telecom’s 4G spectrum in the lucrative Uttar Pradesh (East) and Bihar circles in what could be the second spectrum trading deal in the industry in less than a week. The deal, which is valued at roughly Rs 3,500 crore, could be announced shortly, said people aware of the matter. Telenor, it is learnt, is keen to use the airwaves to launch 4G services to compete better with larger Indian rivals.