Indian telecoms company Reliance Jio has spent $11bn at the country’s 5G spectrum auction, surpassing rivals in the race to dominate India’s next generation of digital services.
The auction, which pitted India’s richest tycoons against one another, paves the way for the arrival of ultrafast 5G telecom services to the country of 1.4bn people.
Ashwini Vaishnaw, India’s communications minister, said on Monday that the bidders spent a total of Rs1.5tn ($19bn) at the first 5G auction, where companies bid on the use of certain frequency bands for telecoms. Authorities want operators to begin introducing services later this year.
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