India's telecom ministry has reportedly instructed Reliance Communications to pay 65.9 billion rupees ($986 million) if it wishes to liberalize spectrum holdings in 20 circles to allow them to be traded or sold.
The department has formulated a figure that covers the market price of the spectrum as well as a one-time spectrum charge of around 1.57 billion rupees, the Economic Times reported.
Reliance Communications (RCom) has applied to liberalize its 800-MHz spectrum holdings in 20 of India's 22 telecom circles, but has not yet received a quote for the four circles where a market-determined price for the spectrum is not available.
According to the report, RCom is seeking to free up the spectrum so that it can enter a spectrum sharing and trading agreement with Reliance Jio Infocomm.
Reliance Jio is the 4G start-up controlled by Reliance Industries. RCom is owned by Anil Ambani while Reliance Industries is owned by his brother Mukesh.