New Delhi, April 6
Reliance Jio has signed an agreement with Bharti Airtel to acquire a portion of spectrum in 800 MHz band for Andhra Pradesh, Delhi and Mumbai circles at an aggregate value of Rs 1,497 crore.
With this spectrum trading agreement, Airtel will receive a consideration of Rs 1,037.6 crore from Jio for the proposed transfer.
In addition, Jio will assume future liabilities of Rs 459 crore relating to the spectrum, Bharti Airtel said. — PTI
“Reliance Jio Infocomm Ltd (RJIL) announced today that it has entered into a definitive agreement with Bharti Airtel for the acquisition of the right to use spectrum in the 800MHz band in Andhra Pradesh, Delhi and Mumbai circles through spectrum trading,” Jio statement said.
Given the enhanced spectrum footprint, especially contiguous spectrum, and superior infrastructure deployed, Jio said it has further increased its network capacity.
With this trading of right to use spectrum, Jio will have 2X15 MHz of spectrum in the 800 MHz band in Mumbai circle and 2X10 MHz of spectrum in the 800 MHz band in Andhra Pradesh and Delhi circles, thereby further consolidating its spectrum footprint in these locations.
Reliance Jio has acquired ‘Right to Use’ of 800 MHz spectrum in Andhra Pradesh (3.75 MHz), Delhi (1.25 MHz) and Mumbai (2.50 MHz) — in all adding up to 7.50 MHz. This marks the first such deal between the two telecom giants.
Rs 1,497-crore deal
- Jio has signed an agreement with Airtel to acquire a portion of spectrum in 800 MHz band for Andhra Pradesh, Delhi and Mumbai circles at an aggregate value of Rs 1,497 crore
Need to buy from open market | States, private hospitals to ...
Lockdown in Mohali on Ram Navami
70% of the patients above the age of 40
Go after hoarders, not political opponents, says Congress