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Bharti Airtel today announced an agreement with Reliance Jio lnfocomm 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, the telco said in a regulatory filing issued after market hours today (6 April 2021). Through this agreement, Airtel will receive a consideration of Rs 1037.6 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. ....
Bharti Airtel sells 800MHz blocks in three circles to Reliance Jio business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Bharti Airtel added 1.08% to Rs 522.90 after Airtel Africa s mobile money business received $100 million investment from Mastercard. In a regulatory filing made during market hours today, the company said that its subsidiary, Airtel Africa, signed an agreement under which Mastercard, a leading innovator and global technology company in the payments industry, will invest $100 million in Airtel Mobile Commerce BV (AMC BV), a wholly owned subsidiary of Airtel Africa. AMC BV is currently the holding company for several of Airtel Africa s mobile money operations and is intended to own and operate the mobile money businesses across all of Airtel Africa s fourteen operating countries. ....
Airtel Africa announced the signing of an agreement under which Mastercard will invest $100 million in Airtel Mobile Commerce BV (AMC BV), a wholly owned subsidiary of Airtel Africa plc (the Transaction). AMC BV is currently the holding company for several of Airtel Africa s mobile money operations and is intended to own and operate the mobile money businesses across all of Airtel Africa s fourteen operating countries. The Transaction values Airtel Africa s mobile money business at $2.65 billion on a cash and debt free basis. Mastercard will hold a minority stake in AMC BV upon completion of the Transaction, with Airtel Africa continuing to hold the majority stake. ....
Read more about Bharti Airtel gains on acquiring 355.45 MHz spectrum for Rs 18,699 cr on Business Standard. Bharti Airtel rose 2% to Rs 542.95 after the company said that it has acquired 355.45 MHz spectrum across Sub GHz, mid band and 2300 MHz bands for a total consideration of Rs 18,699 crore. ....