Reliance Jio signs agreement with Bharti Airtel to acquire 3 spectrum circles

Reliance Jio signs agreement with Bharti Airtel; acquires 3 spectrum circles
Wikimedia Commons

Mukesh Ambani’s Reliance Jio has signed an agreement with Bharti Airtel. This definitive agreement aims to acquire the right to use spectrum. It will be in the 800MHz band in three circles through spectrum trading.

The transferred spectrum will include the ones in Andhra Pradesh (3.75 MHz), Delhi (1.25 MHz) and Mumbai (2.50 MHz).

This makes the aggregate value for right to use this spectrum at Rs 1,497 crore. Also, Airtel will receive a consideration of Rs 1,037.6 crore from Reliance Jio for this proposed transfer.

However, this agreement is subject to statutory approvals. Moreover, Reliance Jio remains the only network, conceived as a Mobile Video Network from the ground up and supporting Voice over LTE technology.

ALSO READ: Int’l. Crude Oil Prices Fall Sharply After OPEC+ Agree To Hike Production