Airtel and Jio conclude spectrum trading agreement

Bhubaneswar: Bharti Airtel (“Airtel”) today announced the closure of its agreement with Reliance Jio Infocomm (“Jio”) to transfer the ‘Right to Use’ of Airtel’s 800 MHz spectrum in three circles to Jio.

Airtel has received Rs. 1004.8 crores (net of tax) from Jio for the proposed transfer. In addition, Jio will assume future liabilities of Rs. 469.3 crores relating to the spectrum.