Indian telecom firms bid $19 billion in 5G auction

Telecom operators in India bid slightly over $19 billion in the government auction for the 5G airwaves, the highest from them in any spectrum sale, as the world’s second-largest wireless market readies the rollout of improved and faster voice and data speeds.
Reliance Jio Infocomm, Bharti Airtel and Vodafone Idea aggressively competed with one another for seven days and made majority of the bids, which the government said exceeded its expectations. Tycoon Mukesh Ambani’s Jio, which counts Google and Meta among its backers, was the most aggressive bidder, a person familiar with the matter

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