Two of essentially the most bitter rivals within the telecom business, Reliance Jio and Bharti Airtel, have signed a spectrum settlement. The deal marks the first-ever such deal between the 2 corporations. This is what the deal is all about.
Airtel is promoting part of its spectrum to Reliance Jio in some circles. The corporate has signed a “definitive” buying and selling deal to promote its 800 MHz spectrum to Reliance Jio Infocomm.
By means of this settlement, Airtel will obtain a consideration of Rs 1037.6 crores from Jio for the proposed switch. As well as, Jio will assume future liabilities of Rs 459 crores referring to the spectrum,” Airtel mentioned in a press release.
The deal to promote 800 MHz spectrum to Reliance Jio Infocomm is for Andhra Pradesh, Delhi and Mumbai circles. Airtel will promote 3.75 MHz of bandwidth in Andhra Pradesh, 1.25 MHz in Delhi and a couple of.50 MHz in Mumbai, topic to regulatory and statutory approvals.