Categories: Agreements

Bharti Airtel sells 800 MHz spectrum in three circles to Reliance Jio

Bharti Airtel has entered into an agreement with Reliance Jio Infocomm to transfer ‘Right to Use’ for some of its 800 MHz spectrum in three circles to the Mukesh Ambani-led firm. Following this agreement, Bharti Airtel will receive a consideration of ₹1,037.6 crores from Reliance Jio for the proposed transfer. In addition, Reliance Jio will assume future liabilities of ₹459 crores relating to the spectrum.

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As per the agreement, which is subject to statutory approvals, Reliance Jio will acquire the right to use spectrum in the 800MHz band in Andhra Pradesh (3.75 MHz), Delhi (1.25 MHz) and Mumbai (2.50 MHz) circles through spectrum trading.

Important takeaways for all competitive exams:

Bharti Airtel CEO: Gopal Vittal.
Bharti Airtel Founder: Sunil Bharti Mittal.
Bharti Airtel Founded: 7 July 1995.
Reliance Industries Ltd Founder: Dhirubhai Hirachand Ambani.
Reliance Industries Ltd Chief Executive Officer(CEO): Mukesh Dhirubhai Ambani.
Reliance Industries Ltd Headquarters: Mumbai, Maharashtra.

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Sumit Arora

As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.