Thursday 19 March 2015

Spectrum auction: Vodafone to pay back Reliance Jio

The overall bids reached Rs. 107,709 crore as auctions entered the last leg 

After Reliance Jio Infocomm pushed Vodafone India, Bharti Airtel and Idea Cellular into a bidding war for the 900 MHz band, Vodafone India is planning to pay back Jio as the spectrum auction enters its last leg, according to a media report.

The overall bids reached Rs. 107,709 crore as auctions entered the last leg, the report added.

Earlier, Jio had pushed Vodafone, Airtel & Idea into a bidding war for 900 MHz airwaves, the report further said.

Now, Vodafone with the support of its UK-based parent is using the same strategy against Jio. It has pushed up prices of 800MHz band sought by Jio to deploy 4G.  

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