Jio potentially saved USD 400 mn with recent spectrum trading deal: Report

Jio’s spectrum trading pact with Airtel has enabled India’s largest telco to top-up its holding in three key circles and yielded potential savings of about USD 400 million, according to a report.

It is pertinent to mention here that 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 — marking the first such deal between the two telecom giants that otherwise compete fiercely in the market.

Market analysts have termed the deal “mutually beneficial” and “win-win for both”.

UBS in a note cited Jio’s spectrum buys in the 800 MHz band in Andhra Pradesh, Delhi and Mumbai in the recently-concluded auctions.