News > Jio inks pact with Airtel for acquisition of some spectrum; deal value at ₹1,497 crore

Jio inks pact with Airtel for acquisition of some spectrum; deal value at ₹1,497 crore

Dais Newsfeed | 08/04/2021 09:27 AM | Click to read full article

Reliance Jio on Tuesday said it has signed an agreement with Bharti Airtel for the acquisition of some spectrum in 800 MHz band in Andhra Pradesh, Delhi and Mumbai circles at an aggregate deal value of about ₹1,497 crores.

Airtel will receive a consideration of ₹1,037.6 crore from Jio for the proposed transfer. In addition, Jio will assume future liabilities of ₹459 crores relating to the spectrum.