Spectrum-trading pact: Airtel monetises unused airwaves, Jio saves $400m

The first spectrum-trading pact between Reliance Jio and Bharti Airtel NSE 0.46 % allows the Sunil Mittal-led telco to monetise unutilised airwaves and, at roughly half the auction price, saves the Mukesh Ambani-owned operator some $400 million while beefing up its holdings in three circles.

Market leader Jio said on Tuesday it acquired the right to use 800 MHz spectrum from No. 2 telco Bharti for roughly Rs 1,500 crore, including Rs 459 crore in future spectrum-related liabilities.