RCom falls 5% after spectrum deal with Jio comes under DoT scanner

Shares of telecom major Reliance communication tanked 5 percent intraday on March 26 after a report suggested that the spectrum sharing deal between RCom and Reliance Jio Infocomm came under the scanner of the Department of Telecom (DoT).

The DoT has raised eyebrows following non-payment of Rs 21 crore by RCom towards instalment for spectrum in the Mumbai circle earlier this month, a report in The Economic Times said.

DoT officials opined that airwaves, for which there has been a default in payment, cannot be shared or traded.

The scrapping of airwaves could also adversely impact Jio's services as it shares RCom’s airwaves in the 850 MHz band in 21 circles, including Mumbai.

At 1110 hours, Reliance communication was quoting Rs 4.81, down 4.94 percent on the BSE.

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