Bharti Airtel announced the closure of its agreement with Reliance Jio Infocomm to transfer the Right to Use of Airtel’s 800 MHz spectrum in three telecom circles to Jio.
Airtel has received Rs 1004.8 crore from Reliance Jio for the proposed transfer. In addition, Reliance Jio will assume future liabilities of Rs 469.3 crore relating to the spectrum.
Reliance Jio is buying right to use spectrum in the 800MHz band in Andhra Pradesh (2 x 3.75 MHz), Delhi (2 x 1.25 MHz) and Mumbai (2 x 2.5 MHz) circles through spectrum trading
Reliance Jio will have 800 MHz band spectrum footprint of 2 x 15MHz in Mumbai circle and 2 x 10 MHz each in Andhra Pradesh and Delhi circles, thereby further enhancing network experience of its customers.