Airtel sells some 800 MHz spectrum in 3 circles to Jio for Rs 1,037.6 crore
Synopsis
Gopal Vittal, MD & CEO (India and South Asia), Bharti Airtel said: “The sale of the 800 MHz blocks in these three circles has enabled us to unlock value from spectrum that was unutilised. This is aligned to our overall network strategy.”
Reuters
Jio will assume future liabilities of Rs 459 crores relating to the spectrum, Airtel said in a statement.
Bharti
Airtel has signed a “definitive” trading deal to sell its 800 MHz spectrum to Reliance Jio Infocomm in Andhra Pradesh, Delhi and Mumbai circles for Rs 1,037.6 crore, marking the first ever such deal between the two bitter rivals.
Jio inks pact with Airtel for acquisition of some spectrum; deal value at Rs 1,497 crore
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Jio inks pact with Airtel for acquisition of some spectrum; deal value at Rs 1,497 crore
PTI / Apr 6, 2021, 18:04 IST
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NEW DELHI: Reliance Jio on Tuesday said it has signed an agreement with Bharti Airtel for the acquisition of some spectrum in 800 MHz band in Andhra Pradesh, Delhi and Mumbai circles at an aggregate deal value of about Rs 1,497 crore.
Through this 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 in a separate statement.
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Reliance Jio on Tuesday said it has signed an agreement with Bharti Airtel for the acquisition of some spectrum in 800 MHz band in Andhra Pradesh, Delhi and Mumbai circles at an aggregate deal value of about Rs 1,497 crore.