MumbaiMukesh Ambani-led Reliance Jio Infocomm Limited (RJIL) has completed a ‘right to use’ agreement with Bharti Airtel for 800 MHz spectrum in three circles. The deal includes transfer of ‘right to use’ of 800 MHz spectrum of Airtel in Andhra Pradesh (3.75 MHz), Delhi (1.25 MHz) and Mumbai (2.50 MHz) circles.
“Airtel has received Rs 1004.8 crore (after tax payment) from Jio for the proposed transfer. In addition, Jio will assume future liabilities of Rs 469.3 crore related to spectrum,” Bharti Airtel said in a statement. With this trading of Right to Use spectrum, Reliance Jio Infocomm Limited has 2 x 15 MHz of 800 MHz band spectrum in Mumbai circle and 2 x 10 MHz band spectrum in Andhra Pradesh, Delhi circle.
Shares of Bharti Airtel closed at Rs 637.05, up 2.21 per cent in the stock market on Friday, taking the company’s value to Rs 3,49,869.60 crore. Shares of RIL closed 1.63 per cent higher at Rs 2144.75 on the BSE, with a value of Rs 13,59,652.06.
This agreement with Jio’s Airtel was announced in April this year. This was the first such agreement between two big telecom companies. Air waves come in different bands. Their job is to support the various propagation features for the transmission of voice and data.
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