India's Largest Telecom Auction Begins Today; Adani Networks In The Fray
By Mohammed Kudrati India's biggest telecom auction for 5G spectrum has kicked off today, with India's three established mobile communication players - Reliance Jio, Bharati Airtel and Vodafone Idea - being joined by new entrant Adani Data Networks. At its base price, the spectrum is worth ₹4.3 lakh crores (₹4.3 trillion). The auction would last all day but could spill into tomorrow if the demand for the spectrum exists and bidding continues. Each of these players paid an earnest money deposit: Jio's was the highest at ₹14,000 crores, followed by Airtel at ₹5,500 crores, cash-strapped Vodafone...