Airtel, Reliance Jio conclude spectrum trading agreement

Airtel said it has received Rs 1,004.8 crore (net of tax) from Jio for the proposed transfer.

airtel jio deal
Jio will assume future liabilities of Rs 469.3 crore relating to the spectrum, the statement added.

Bharti Airtel on Friday announced the closure of its agreement with Reliance Jio Infocomm to transfer the ‘Right to Use’ of Airtel’s 800 MHz spectrum in three circles to Jio. Airtel said it has received Rs 1,004.8 crore (net of tax) from Jio for the proposed transfer.

Besides this, Jio will assume future liabilities of Rs 469.3 crore relating to the spectrum, the statement added.
Bharti Airtel’s deal with Reliance Jio Infocomm involves the transfer of the `Right to Use’ of Airtel’s 800 MHz spectrum in Andhra Pradesh (3.75 MHz), Delhi (1.25 MHz) and Mumbai (2.50 MHz) circles to Jio, the companies had said earlier this year.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express Telegram Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.