Bharti Airtel has completed its deal to sell airwaves in the 800 MHz band with Reliance Jio, marking the first-ever agreement between the two telcos.
Earlier, in April 2021, Airtel had entered into an agreement to transfer the right to use it’s 800 MHz spectrum in three circles to Reliance Jio.
As per a regulatory filing with the stock exchanges, Airtel has collected Rs 10.048 billion (net of tax) from Reliance Jio for the planned transfer. Furthermore, Jio would absorb the spectrum’s future liabilities amounting to Rs 4.6 billion.
Following the closure of the trading deal, Jio now has the right to use Airtel’s 800 MHz spectrum in the Andhra Pradesh, Delhi, and Mumbai circles.