Bharti Airtel sells 800 MHz spectrum in three circles to Reliance Jio for Rs 1,037.6 crore.
Bharti Airtel and Reliance Jio signed an agreement on Tuesday wherein the former will transfer spectrum in 800 MHz band in Andhra Pradesh, Delhi and Mumbai circles to Jio for Rs 1037.6 crore, according to the statements by the two telecom companies.
Through this agreement, Bharti Airtel will receive a consideration of Rs 1037.6 crores from Reliance Jio for the proposed transfer. In addition, Jio will assume future liabilities of Rs 459 crores relating to the spectrum, a statement by Bharti Airtel said.
The spectrum transfer comprises 800 MHz band in Andhra Pradesh (3.75 MHz), Delhi (1.25 MHz) and Mumbai (2.50 MHz).