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Reliance Jio signs agreement with Bharti Airtel

Capital Market 

To acquire right to use spectrum in 800MHz band in Andhra Pradesh, Delhi and Mumbai circles

Reliance Jio Infocomm has entered into a definitive Agreement with Bharti Airtel for acquisition of right to use spectrum in the 800MHz band in Andhra Pradesh, Delhi and Mumbai circles through spectrum trading. Circle wise details of the traded spectrum is provided below:

Andhra Pradesh - 3.75
Delhi - 1.25
Mumbai - 2.50
Total - 7.50

The trading agreement is in accordance with the Spectrum Trading Guidelines issued by the Department of Telecommunications and is subject to the requisite regulatory and statutory approvals. The aggregate value for the right to use this spectrum is Rs. 1,497 crores, inclusive of present value of associated deferred payment liablity of Rs. 459 crores, subject to any transaction related adjustments.

With this trading of right to use spectrum, RJIL will have 2X15MHz of spectrum in the 800MHz band in Mumbai circle and 2X10MHz of spectrum in the 800MHz band in Andhra Pradesh and Delhi circles, thereby further consolidating its spectrum footprint in these circles. With the enhanced spectrum footprint, especially contiguous spectrum, and superior infrastructure deployed, RJIL has further increased its network capacity.

The transaction is subject to the requisite regulatory and statutory approvals.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, April 06 2021. 16:24 IST
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