Airtel and Jio conclude spectrum trading agreement

Bharti Airtel ("Airtel") today announced the closure of its agreement with Reliance Jio Infocomm ("Jio") to transfer the 'Right to Use' of Airtel's 800 MHz spectrum in three circles to Jio.

Airtel has received Rs. 1004.8 crores (net of tax) from Jio for the proposed transfer. In addition, Jio will assume future liabilities of Rs. 469.3 crores relating to the spectrum.

Shares of Bharti Airtel Ltd. was last trading in BSE at Rs. 637.05 as compared to the previous close of Rs. 623.25. The total number of shares traded during the day was 1077201 in over 18545 trades.

The stock hit an intraday high of Rs. 638.6 and intraday low of 618.15. The net turnover during the day was Rs. 679536950.

Source : Equity Bulls

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