Reliance Jio concludes spectrum trading agreement with Bharti Airtel

Mumbai (Maharashtra) [India], August 13 (ANI): Reliance Jio Infocomm Ltd (RJIL) announced on Friday that it has concluded the definitive agreement entered with Bharti Airtel Limited for acquisition of right to use spectrum in the 800MHz band in Andhra Pradesh (2 x 3.75 MHz), Delhi (2x 1.25 MHz) and Mumbai (2 x 2.5 MHz) circles through spectrum trading, which has been taken on record by the Department of Telecommunications (DOY).

In a statement issued by RJIL today, it said that it has paid total consideration of Rs 1,183.3 crores (inclusive of taxes) to Bharti Airtel and has assumed deferred payment liability with a net present value of Rs 469.3 crores.

With this trading of right to use spectrum, RJIL will have an 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 the network experience of its customers. (ANI)