Reliance Jio on Tuesday announced the acquisition of 800MHz spectrum band rights in the Andhra Pradesh, Delhi, and Mumbai circles. The deal will help Jio enhance its network capacity and bolster its footprint in the telecom sector.
Reliance Jio Infocomm Ltd signs spectrum trading agreement with Bharti Airtel Ltd
Posted On: 2021-04-06 04:08:21 (Time Zone: Arizona, USA)
Reliance Jio Infocomm Ltd ( RJIL ) announced today that it has entered into a definitive Agreement with Bharti Airtel Limited for acquisition of right to use spectrum in the 800MHz band in Andhra Pradesh, Delhi and Mumbai circles through spectrum trading.
The trading agreement is in accordance with the Spectrum Trading Guidelines issued by the Department of Telecommunications and is subject to the requisite regulatory and statutory approvals. The aggregate value for the right to use this spectrum is Rs. 1,497 crores, inclusive of present value of associated deferred payment liablity of Rs. 459 crores, subject to any transaction related adjustments.
As per the agreement, which is subject to statutory approvals, Reliance Jio will acquire right to use spectrum in the 800MHz band in Andhra Pradesh (3.75 MHz), Delhi (1.25 MHz) and Mumbai (2.50 MHz) circles through spectrum trading
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