Airtel, Jio conclude spectrum trading agreement

NEW DELHI: 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.