Indian Wireless Auction Beats Government’s $10 Billion Target

March 11, 2015

ind3India’s auction of mobile phone airwaves surpassed the government’s revenue target on just the second day as incumbent operators sought to protect themselves from bids by billionaire Mukesh Ambani’s upstart Reliance Jio Infocomm Ltd.
The eight wireless operators participating in the process offered a total of about 650 billion rupees ($10.4 billion) after two days of bidding Thursday, the Indian government said in an e-mailed statement. That compares with the government’s 648.4 billion-rupee target for the two-week-long auction. Source

Comments are closed.