Jio may have saved $400 mn from spectrum deal with Airtel: Report

Reliance Jio's spectrum deal with Bharti Airtel yielded the company potential savings of about $400 million, according to a report by UBS. Jio on Tuesday signed an agreement with Airtel for acquisition of right to use spectrum in the 800 MHz band in Andhra Pradesh, Delhi and Mumbai circles. "Jio had...opportunity to purchase this spectrum in...auction itself," UBS added.