RIL telecoms unit applies to bid in India spectrum auction: Sources

Tags: Companies
The telecoms unit of energy major Reliance Industries has applied to bid in a spectrum auction next month, said a source with direct knowledge of the matter.

The move by Reliance Jio Infocomm Ltd comes as a surprise as the company is working to launch 4G wireless broadband services soon.

Idea Cellular and Reliance Communications have also applied to bid in the spectrum auction, sources said.

India will auction spectrum in two separate frequency bands starting February 3. The government hopes to raise at least $1.8 billion from the sale, crucial to its efforts to rein in the country's budget deficit.

Cellular carriers have to submit initial interest for participating in the auction by Wednesday.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Steps towards transparency in the real estate sector are long overdue

    Searching for black money in India’s real estate sector, which constitutes 11 per cent of the country’s $ 2 trillion GDP, is like searching for th

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

Reaping from the core of the earth

Geothermal energy is energy generated from inside the earth’s crust. ...

Zehra Naqvi

For the love of language

A video doing the rounds in social media these days ...

Dharmendra Khandal

‘Poop’ coffee anyone? If civets suffer, so be it

That a drink which proudly associates itself with animal poop ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture