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Reliance’s Jio Tops Pile in India’s $19bn 5G Sell-Off

World’s No2 mobile market set to roll out its next-gen high-speed wireless network by October with Jio, Airtel, Vodafone claiming slices

Jio leads India 5G auction
A Jio mobile phone is on display inside a Reliance digital store in Mumbai. Photo: Reuters


Reliance Industries’ Jio topped the pile as the biggest spender in India’s $19 billion 5G spectrum auction, successfully winning airwaves worth $11 billion as the world’s No2 mobile market gears up for the high-speed wireless network.

India’s government aims to begin the rollout of 5G – which it says can provide data speeds about 10 times faster than 4G – by October this year. Globally, the next generation network is seen as vital for emerging technologies like self-driving cars and artificial intelligence.

The country’s telecoms minister said that companies bought 71% of a total of 72 GHz spectrum offered in the auction, which concluded on Monday and also saw participation from Jio rivals Bharti Airtel and Vodafone Idea, as well as a unit of Adani Enterprises Ltd.

Airtel and Vodafone won spectrum worth $5.4 billion and $2.4 billion, respectively.


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Adani, the newest entrant to the auction process, purchased airwaves worth nearly $27 million. The firm does not plan to offer consumer services and is instead aiming to enter the private 5G network space.

To aid the cash-strapped telecom sector, the government is allowing auction winners to pay the amounts owed in 20 equal annual instalments.

Airtel and Vodafone have been under pressure since Jio triggered a price war in 2016 with both reporting losses in recent years, also squeezed by spectrum dues from earlier auctions. However, recent mobile data price hikes have helped Airtel creep back to profit.

“This spectrum acquisition…has been part of a deliberate strategy to buy the best spectrum assets at a substantially lower relative cost compared to our competition,” Airtel Chief Executive Officer Gopal Vittal said in a statement.

Without giving specifics, Jio said that it will be ready for the 5G rollout “in the shortest period of time.”


  • Reuters with additional editing by Sean O’Meara


Read more:

Reliance Jio Bids Big in India’s First 5G Auction – Nikkei

India Says It Will Auction 5G Airwaves This Year



Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.


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