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Bharti Airtel sells spectrum worth Rs 1,497 crore to Reliance Jio

Jio will acquire 3.75 MHz in Andhra Pradesh, 1.25 MHz in Delhi, and 2.5 MHz in Mumbai

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Through this agreement, Airtel will receive a consideration of Rs 1,037.6 crore from Jio for the proposed transfer. In addition, Jio will assume future liabilities of Rs 459 crore related to spectrum

Megha Manchanda New Delhi

2 min read Last Updated : Apr 07 2021 | 2:07 AM IST

Reliance Jio Infocomm (Jio) on Tuesday said it had signed a definitive agreement with Bharti Airtel to acquire the right to use spectrum in the 800-megahertz (MHz) band in Andhra Pradesh, Delhi, and Mumbai circles through spectrum trading.

Jio will acquire 3.75 MHz in Andhra Pradesh, 1.25 MHz in Delhi, and 2.5 MHz in Mumbai. “The aggregate value for the right to use this spectrum is Rs 1,497 crore, inclusive of present value of associated deferred payment liability of Rs 459 crore, subject to any transaction-related adjustments,” Jio said in a statement.

The trading agreement, it said, is in accordance with the

Topics : Bharti Airtel Reliance Jio Telecom spectrum telecom sector

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