Bharti Airtel has entered into an agreement with Reliance Jio lnfocomm (Jio) 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 crore from Jio for the proposed transfer. In addition, Jio will assume future liabilities of Rs 459 crore relating to the spectrum.
Bharti Airtel is a leading integrated telecommunications company with operations across Asia and Africa.
