Indian operator Reliance Jio concluded a spectrum trading deal with rival Bharti Airtel in three areas, boosting its holdings in the 800MHz band to improve network coverage and capacity.
Jio paid INR11.8 billion ($159.1 million) including taxes to Airtel for 3.75MHz in Andhra Pradesh, 1.25MHz in Delhi and 2.5MHz in Mumbai. It also assumed future liabilities of INR46.9 billion relating to the spectrum, the companies explained in separate statements.
The deal leaves Jio with 2x15MHz of 800MHz airwaves in Mumbai, and 2x10MHz each in Andhra Pradesh and Delhi.
Jio announced it would acquire 800MHz spectrum in the three areas from Airtel in April.
The same month, the Department of Telecommunications assigned 4G spectrum won in an auction in March which involved Jio acquiring spectrum across five bands worth INR571.2 billion.Subscribe to our daily newsletter Back