New Delhi: Bharti Airtel Ltd has agreed to transfer to Reliance Jio Infocomm Ltd the right to use its spectrum in the 800MHz band for ₹1,037.6 crore, according to statements by the two companies.
The airwaves will be transferred in three zones—3.75MHz in Andhra Pradesh, 2.50MHz in Mumbai and 1.25MHz in Delhi. Reliance Jio will assume future liabilities of ₹459 crore relating to the spectrum.
Premium The proposed transfer is subject to statutory and regulatory approvals, the companies said.
“The sale of the 800MHz blocks in these three circles has enabled us to unlock value from spectrum that was unutilised. This is aligned to our overall network strategy," said Gopal Vittal, chief executive, Bharti Airtel.
Jio said the agreement is as per the spectrum trading guidelines issued by the department of telecommunications (DoT).
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