Jio inks pact with Airtel to buy some spectrum in 800 MHz band; deal valued at Rs 1,497 cr
Reliance Jio has signed an agreement with Bharti Airtel to acquire a portion of spectrum in 800 MHz band for Andhra Pradesh, Delhi and Mumbai circles at an aggregate value of Rs 1,497 crore — marking the first such deal between the two telecom giants. With this spectrum trading 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, Bharti Airtel said in a separate statement. “Reliance Jio Infocomm…
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