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Reliance Jio to use Bharti Airtel's spectrum in the 800Mhz band, signs trading deal

The aggregate value for the right to use this spectrum is Rs 1,497 crores, inclusive of present value of associated deferred payment liability of Rs 459 crores, subject to any transaction related adjustments.

April 06, 2021 / 04:57 PM IST
Reliance Jio

Reliance Jio

Mukesh Ambani-owned Reliance Jio on April 6 announced signing of definitive agreement for trading of right to use spectrum in the 800Mhz band with Bharti Airtel limited in Andhra Pradesh, Delhi and Mumbai circles.

The aggregate value for the right to use this spectrum is Rs 1,497 crores, inclusive of present value of associated deferred payment liability of Rs 459 crores, subject to any transaction related adjustments.

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"With this trading of right to use spectrum, RJIL will have 2X15MHz of  spectrum in the 800MHz band in Mumbai circle and 2X10 MHz of spectrum in the 800 MHz band in Andhra Pradesh  and  Delhi  circles,  thereby  further  consolidating  its  spectrum  footprint  in  these circles," Jio said in a statement.

"With  the enhanced spectrum footprint, especially contiguous spectrum, and superior infrastructure deployed, RJIL has further increased its network capacity," it added.

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However, the transaction is subject to the requisite regulatory and statutory approvals.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Moneycontrol News
first published: Apr 6, 2021 04:46 pm

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