India's Reliance Jio Infocomm announced that it has entered with Bharti Airtel for acquisition of right to use spectrum in the 800MHz band in Andhra Pradesh (2 x 3.75 MHz), Delhi (2 x 1.25 MHz) and Mumbai (2 x 2.5 MHz) circles through spectrum trading.
Jio has paid total consideration of Rs 1,183.3 crores (inclusive of taxes) to Bharti Airtel and has assumed deferred payment liability with net present value of Rs 469.3 crores.
With this trading of right to use spectrum, Jio will have 800 MHz band spectrum footprint of 2 x 15MHz in Mumbai circle and 2 x 10 MHz each in Andhra Pradesh and Delhi circles, thereby further enhancing network experience of its customers.
