Mukesh Ambani s Jio Biggest Buyer in $11 Billion India Airwave Auction Mukesh Ambani s Jio Biggest Buyer in $11 Billion India Airwave Auction Reliance Jio acquired 488.35 megahertz of airwaves, dwarfing the 355.45 megahertz added by Bharti and 11.8 megahertz by Vodafone s local unit.
Reliance Jio has acquired airwaves that are suitable for use with 5G technology
Billionaire Mukesh Ambani-led Reliance Jio Infocomm Ltd. emerged the top bidder in the $11 billion airwaves auction, as the country s largest wireless operator seeks to cement its competitive edge over rivals.
Reliance Jio bought airwaves worth 571.23 billion rupees ($7.8 billion) of the total 778.2 billion rupees raised in the latest spectrum auction, Telecom Secretary Anshu Prakash told reporters in New Delhi on Tuesday. Rival Bharti Airtel Ltd. spent $2.6 billion while Vodafone Plc s India unit acquired spectrum worth 19.9 billion rupees.