Airtel Inks Agreement To Sell 800 MHz Spectrum In Three Circles To Rival Reliance Jio For Rs 1037.6 Crore
Airtel and Jio battling for telecom supremacy.
Bharti Airtel on Tuesday announced an agreement with Reliance Jio Infocomm to transfer the Right to Use of Airtel s 800 MHz spectrum in Andhra Pradesh (3.75 MHz), Delhi (1.25 MHz) and Mumbai (2.50 MHz) to Jio.
The agreement is subject to statutory approvals, Airtel said in a statement.
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.
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.
Airtel, Jio announce spectrum trading agreement
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Airtel, Jio announce spectrum trading agreement
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Synopsis
Telecom tower companies have approached DoT for vaccination of their field teams on a priority basis, akin to frontline healthcare staff, so that they can go about their operations & maintenance work in an unhindered fashion in states seeing a surge in Covid cases.
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Phone companies have sought the urgent intervention of the Department of Telecommunications (DoT) to ensure their essential field staff get the status of frontline healthcare workers to operate freely and be exempt from any curfew-like restrictions amid the surge in Covid-19 cases in Maharashtra and the prospect of fresh lockdowns.
They have warned that without such exemptions, telecom services field engineers won’t be able to access critical sites nor do repairs and maintenance work in Covid zones, which could cause a breakdown in mobile and internet connectivity in Maharashtra.