Videocon Telecom to close down Punjab Circle Operations from Feb 15
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Videocon Telecom, the subsidiary of Videocon Group will shut down its operations in Punjab circle including Chandigarh and Panchkula town with effect from the coming February 15th. In a statement, the company has urged its subscribers to choose MNP facility to port out to the network of their choice.
Sale of Spectrum:
The company which has been providing the services under Quadrant Televentures Ltd. will exhaust its Unified Access Service Licence for Punjab circle with effect from the midnight of February 15, 2017. Videocon Telecom has been incurring losses from the last 2 years and thus it has taken the extreme step to exit from the business of telecom sector.
Also Read: Tata Teleservices Migrates to Unified Licence in Three Circles
It is to inform the readers that Bharti Airtel has purchased two of Videocon’s 5MHz spectrum in the 1800MHz band in all six telecom circles that had been allotted by the Department of Telecommunications (DoT). The company will shut down operations in the entire Punjab circle so that it will not incur further losses.
Videocon Telecom has issued a public statement and a 30-day prior notice urging its postpaid subscribers to clear the pending bills before Feb 15th. All the existing subscribers (more than 2.9 million users) are requested to port out to the network of their choice by February 15th or else the user can’t retain the number.
More Consolidation Likely in Indian Telecom Sector:
It’s sad to say that telecom sector is going through tough times. Starting from Reliance Communications merger with Aircel to the latest shut down of Videocon Telecom, the entire sector is finding tough to have a smooth going. We also reported that Telenor India is looking to sell its business to Bharti Airtel. The latest statement by Bharti Enterprises Chairman Sunil Bharti Mital, “Vodafone-Idea Cellular merger is a perfect match” clearly signifies that consolidation is inevitable in the telecom sector.
Also Read: Telenor in Talks with Bharti Airtel to Sell India Business for $350 Million