The auction of telecom spectrum, including bands for offering fifth generation (5G) technology services, concluded on Monday drawing record bids exceeding ₹1.50 lakh crore. Telecom Minister Ashwini Vaishnaw said 71% of the 72,098 MHz of spectrum on offer was sold. Reliance Jio emerged as the top bidder, staking claim for a period of 20 years to 24,740 MHz of spectrum. Bharti Airtel stood second with 19,867.8 MHz worth spectrum and Vodafone-Idea third with 6,228.4 MHz worth spectrum. The mop-up from the bids with respect to 5G airwaves was almost double in comparison to that of 4G last year. According to the telecom Minister, “Spectrum purchased is good enough to cover all circles in the country. [In the] coming two-three years, we will have good 5G coverage.” As per the Ministry, the roll-out of 5G services is likely to start by September/October. (Read More)
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