Reliance Communications pays Rs 5383.84 crore to DoT to liberalize spectrum across 16 circles
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NEW DELHI: Anil Ambani-owned Reliance Communications (RCom) Wednesday said it has paid Rs 5383.84 crore as a liberalization fee to the telecom department.
"We have paid liberalization fee in relation to spectrum in the 800 and 850 MHz band held in 16 telecom circles," the telco informed the National Stock Exchange (NSE) in a statement.
The Kolkata High Court, in its decision on January 14, 2016, directed that the telco is not required to furnish any bank guarantees for disputed one-time spectrum charges as asked by the telecom department.
The payment will allow RCom to trade and share the liberalised airwaves with Mukesh Ambai's Reliance Jio Infocomm. Both telcos have already entered into a spectrum trading and sharing deal on Jan 18, under which Jio will buy spectrum in nine circles from RCom, while the two will subsequently share bandwidth in 17 circles.
Sources say RCom got an immediate payout of Rs 4,500 crore from Jio, and these proceeds were used to pay the spectrum liberalization cost.
The two companies also intend to enter into mutual Intra Circle Roaming (ICR) arrangements.
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