Jio acquires spectrum in 800 MHz band from Airtel

Reliance Jio has signed an agreement with Bharti Airtel to acquire a portion of spectrum in 800 MHz band for Andhra Pradesh, Delhi and Mumbai circles at an aggregate value of Rs 1,497 crore.

With this spectrum trading 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 relating to the spectrum, Bharti Airtel said. — PTI