Spectrum Auction: RJio acquires 269 Mhz for nearly Rs 13,700 crore
The company renewed its expiring spectrum in 800 MHz band in Gujarat circle.
Reliance Jio on Thursday announced that that it has successfully acquired the right to use 269.2 MHz of spectrum across all 22 service areas in India in the latest auction of airwaves for a consideration of Rs 13,672 crore.
"We have expanded our spectrum footprint thereby significantly enhancing capacity of our all-Internet Protocol data strong network and ensuring world-class services for all Indians," Chairman Mukesh Ambani said in a statement.
"Jio is committed to taking India to global digital leadership by bringing the power of data to all Indians."
The company renewed its expiring spectrum in 800 MHz band in Gujarat circle and purchased additional spectrum in the 800 MHz, 1800 MHz and 2300 MHz bands at 6.5% premium to reserve price.
"Through this acquisition, RJIL`s total spectrum footprint has increased to 1,108 MHz with an average life of over 16 years, further strengthening its leadership position in liberalized spectrum holdings."
The acquisition by Jio comes close on the heels of a recent statement by Anil Ambani, Chairman of Reliance Communications and the younger brother of Mukesh Ambani, regarding the present status of the two companies.
"As far as our 100 million customers are concerned, as far as our 1 million retailers are concerned, as far as our employees are concerned, and as far as our vendors and partners are concerned, there has already been a virtual merger of the two organisations," he said.
"Our spectrum is shared, our network is shared, our fibre is shared , our towers are shared, our voice is shared," he said, adding: "There are two committed brothers -- Mukesh Ambani and Anil -- both working relentlessly to fulfill the dream of Dhirubhai Ambani".