Airtel, Idea, RCom plunge upto 6.6% as Reliance Jio raises 2G auction bar - The Economic TimesTelecom stocks slide as RIL joins the race for spectrum auction | Business Standard
Reliance Jio Infocomm joined top telcos Bharti Airtel, Vodafone India and Idea Cellular in applying to bid for spectrum in auctions beginning February 3, setting the stage for a grand fight, especially in the 900 Mhz band.By getting the spectrum, Reliance Industries would be able to launch basic mobile phone services along with its yet-to-be launched 4G venture.
Admin, get ready to add new section in Mobile ServicesRIL will join Bharti Airtel, Idea Cellular as well as the local units of Vodafone Group PLC and Telenor ASA in bidding for bandwidth in the auction in February. The government aims to raise at least Rs 11000 crore through two sets of auctions, one for a national service and another for a portion of bandwidth in Delhi, Mumbai or Kolkata, collectively home to over 32 million Indians.RIL will bid to operate both nationally and in the three cities. A successful bid would mark the company's re-entry into the phone business after spinning-off its cellphone unit Reliance Communications in 2005, to brother Anil Ambani, as part of the division of the business empire built by their late father, Dhirubhai Ambani.