Mukesh Ambani’s Reliance Jio emerges top bidder of 5G Spectrum

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Billionaire Mukesh Ambani promoted Reliance Jio has emerged as the largest bidder for the seven day 5G spectrum auction. The company acquired about half of all the airwaves auctioned for Rs 88,078 crore.</p>
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A record over Rs 1.5 lakh crore worth of 5G telecom spectrum was sold in a seven-day auction ending on Monday.</p>
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According to reports Adani group bought spectrum in the 26 GHz band, which is not for public networks. Earlier Telecom Minister Ashwini Vaishnaw said that the roll-out of 5G spectrum is expected to start in October.</p>
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“5G services rollout will happen in October beginning, spectrum auctions will be completed in next 2-3 days, soon afterwards, spectrum allocation will happen, we have already told industry that they should act fast after allocation in order to do the set-up and roll out services soon, this is the type of planning which is going on now,” Vaishnaw said at a press meet.</p>
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<strong>Also read: <a href="https://www.indianarrative.com/tech-news/govt-receives-bids-worth-rs-lakh-crore-from-telecom-giants-on-first-day-of-g-spectrum-auction-186549.html">Govt receives bids worth Rs 1.45 lakh crore from telecom giants on first day of 5G spectrum auction</a></strong></p>