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Reliance Jio buys Bharti Airtel s 800 MHz spectrum in Andhra, Delhi and Mumbai circles

07 April 2021 Reliance Jio Infocomm Ltd (RJIL) on Tuesday said it has entered into a definitive agreement with Bharti Airtel Limited for acquisition of right to use spectrum in the 800 MHz band in Andhra Pradesh, Delhi and Mumbai circles through spectrum trading.  Jio signed an agreement with Airtel to aacquire some of the latter’s spectrum in the 800 MHz band in the three telecom circles, totally valued at Rs1,497 crore. As part of the agreement, Airtel would receive Rs1,038 crore from Jio for the proposed transfer. In addition, Jio will also assume the future liabilities of Rs459 crore relating to the spectrum.

Reliance Jio Infocomm Ltd signs spectrum trading agreement with Bharti Airtel Ltd

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.

Stocks to watch: Laxmi Organic, Craftsman, Jubilant Food, BoI, RVNL, Airtel

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