Reliance Jio Top Spender in India’s $19 Billion 5G Spectrum Auction

by cloudnewsmag

NEW DELHI(Reuters) -Reliance Industries’ Jio emerged as the biggest spender in India’s $19 billion 5G spectrum auction, with the top telco player winning airwaves worth $11 billion to scale up its wireless network across the world’s no.2 mobile market.

Airtel and Vodafone won spectrum worth $5.4 billion and $2.4 billion, respectively.

Globally, the next generation network is seen as vital for emerging technologies like self-driving cars and artificial intelligence.

Adani purchased airwaves worth nearly $27 million.

(Reporting by Munsif Vengattil in New Delhi; Editing by Shailesh Kuber, Kirsten Donovan)

Copyright 2022 Thomson Reuters.

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