New Delhi: Bharti Airtel on Friday announced the closure of his agreement with the Reliance Jio Infocomm to transfer ‘the right to use the’ 800 MHz Airtel spectrum in three circles to the Ambesh Mukesh LED company.
Airtel said in a statement had received Rs 1,004.8 Crore (after deducting taxes) from Jio for the proposed transfer.
In addition, Jio will assume the future liabilities of RS 469.3 Crore related to the spectrum, the statement is added.
In the afternoon statement, Jio said: “With the right trading to use this spectrum, RJIL will have a trace of the 800 MHz 2 x 15MHz band in the Mumbai circle and each 2 x 10 MHz in Andhra Pradesh and Delhi, so that it increases the network experience The customer.
“Reliance Jio InfoComm Ltd (RJIL) said he had paid the total consideration of Rs 1,183.3 Crore (including tax) to Bharti Airtel and had taken responsibility for payment suspended with the current value of Rs 469.3 Crore.
The Jio Pact with Airtel to buy a spectrum at 800 MHz Band was announced in April this year and marked the first deal between two telecommunications giants.
Airwaves come in various ribbons that support different propagation characteristics for voice and data transmission.
For example, the ribbon is like 800 MHz and 900 MHz supports the coverage in a good room while a higher ribbon like 2300 MHz has a good carrying capacity.
Airwaves is also sold in amounts measured as MHz.
The spectrum auction, held earlier this year, has swept the winner’s offer of more than Rs 77,800 Crore for the spectrum of 855.6 MHz.
Billionaire Mukesh Reliance Reliance Jio spends the most in auctions, taking a spectrum of 488.35 MHz in bands such as 800 MHz, 1800 MHz and 2300 MHz for more than Rs 57,100 Crore.
In auction, Bharti Airtel won the right to use the spectrum, the total value is around RS 18,700 Crore.
For Vodafone ideas, the spectrum value purchased in auction was set at Rs 1,993.4 Crore.
There are no takers for the spectrum at 700 MHz and a 2500 MHz band at the last auction.
In accordance with the latest data from the TRAI telecom regulator, the Indian telecommunications market has presented a picture of sharp contrast in May with Bharti Airtel lost 46.13 lakh wireless even as rival Reliance Jio added 35.54 users of Lakh cellphone users.
Overall, the Indian mobile market sums up 62.7 lakh users in May.
In fact, the idea of Airtel and Vodafone suffered massive customer losses that month.
Airtel lost 46.13 lakh cellphone users and ended the month with a 34.8 crore customer base.
Vodafone’s idea – which is currently in the grip of the existential crisis – has seen its cellular customer base shrink by 42.8 lakh users in May, up to 27.7 crore users.
Billionaire Kumar Mangalam Birla recently resigned as Chair of Vodafone Idea Ltd, within two months offering to submit shares of Aditya Birla Group on Telco which was loaded with debt to the government, in an effort to prevent the crisis for telecommunications companies.
The idea of Vodafone (VIL) has an AGR obligation of RS 58.254 Crore, where the company has paid Rs 7,854.3 Crore while Rs 50.399.6 Crore is extraordinary.
Airtel, Jio concluded the spectrum trading agreement
