Airtel announced the transfer agreement of the 800 MHz spectrum to Jio in 3 circles for Rs 1037.6 crores.
Bharti Airtel today announced an agreement with Reliance Jio Infocomm to transfer the ‘Right to Use’ of Airtel’s 800 MHz spectrum in Andhra Pradesh (3.75 MHz), Delhi (1.25 MHz) and Mumbai (2.50 MHz) to Jio. The agreement is subject to statutory approvals.
Through this agreement, Airtel will receive a consideration of Rs 1037.6 crores from Jio for the proposed transfer. In addition, Jio will assume future liabilities of Rs 459 crores relating to the spectrum.
Gopal Vittal, MD & CEO (India and South Asia), Bharti Airtel said: “The sale of the 800 MHz blocks in these three circles has enabled us to unlock value from spectrum that was unutilised. This is aligned to our overall network strategy".
"With the enhanced spectrum footprint, especially contiguous spectrum, and superior infrastructure deployed, RJIL has further increased its network capacity," Jio said in a statement.
In related news to Airtel, the operator recently announced that it has partnered with Apollo 24/7 to offer a wide range of e-healthcare services to its customers as part of their exclusive Thanks benefits. These exclusive benefits can be unlocked by eligible customers through the Airtel Thanks app. Airtel Platinum customers will get 12 months membership to Apollo Circle while Airtel Gold customers will get 3 months membership at no cost.
As per Airtel, this is a one of its kind program that makes healthcare access simpler through digital technologies including online consultation, diagnostics, pharmacy, and wellness.
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