Telecommunications Major Bharti Airtel concluded the trade agreement to sell 800 800 MHz Airwaves in three circles to rely on Jio Infocomm (JIO), marking the first deal between two telecommunications rivals. On Friday, in submitting regulations to the stock exchange, Airtel announced that he had concluded its trade agreement with the Jio Reliance to transfer ‘the right to use the’ 800 MHz Airtel spectrum to Jio.
This means that the closure of the trade agreement gives Jio the right to use the 800 MHz Airtel spectrum in the Andhra Pradesh, Delhi and Mumbai circle.
In accordance with the agreement, Airtel said that the company has received ₹ 1,004.8 crore (after deducting taxes) from Reliance Jio for the proposed transfer. In addition, Jio will bear the future obligation of ₹ 469.3 Crore related to the spectrum.
The agreement resulted in the largest reliance jio – the largest telecommunist operator in the country by the customer base, and the second largest airtel, working with each other, despite competition between two majors, since Mukesh Ambani-LED Jio entered the Telecom sector in 2016.
Earlier this year, Airtel has signed a definitive trade agreement to sell the 800 MHz spectrum to rely on Jio. The company then offered to sell 3.75 MHz bandwidth in Andhra Pradesh, 1.25 MHz in Delhi, and 2.5 MHz in Mumbai, subject to regulatory approval and law.
“800 MHz block sales in these three circles have enabled us to open the value of the spectrum that is not used. It is in harmony with our overall network strategy,” said Gopal Vittal, MD & CEO (India and South Asia), Bharti Airtel on April 2021 .
