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| Edited By: DNA Web Team |Source: DNA Web Desk |Updated: Jul 09, 2022, 07:38 PM IST
Billionaire Gautam Adani-led Adani Group on Saturday confirmed its entry into the race to acquire telecom spectrum, pitching it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel.
"We are participating in the 5G spectrum auction to provide private network solutions along with enhanced cyber security in the airport, ports & logistics, power generation, transmission, distribution, and various manufacturing operations," the group said in a statement.
As India prepares to roll out next-generation 5G services through this auction, we are one of the many applicants participating in the open bidding process: Adani Group pic.twitter.com/jdsH0Gwjm2 — ANI (@ANI) July 9, 2022
Apart from this, the group said if awarded 5G spectrum in the open bidding, it will also align with its recent announcement of significantly increasing the Adani Foundation's investments in education, healthcare and skill development in rural areas.
Earlier on 8 July, several reports claimed billionaire Gautam Adani's group is mulling to make a surprise entry in the race to acquire 5G spectrum, competing with Mukesh Ambani's Jio and Sunil Bharti Mittal's Airtel.
The applications for participating in the 5G auction on 26 July closed on 8 July with atleast four applications.
Earlier, the telecom ministry has specified in its rules for inviting applications that a new entity can apply for spectrum as long as it gives an undertaking that it will obtain the unified license for providing access services or mobile and or data services in any part of the country.
"Any entity that gives an undertaking to obtain a Unified License with authorization for Access Services through a New Entrant Nominee as per the DoT guidelines/ license conditions can bid for the Spectrum," the department said in the notice inviting applications.
As per the PTI report, a total of 72,097.85 MHz of spectrum worth at least Rs 4.3 lakh crore will be put on the block during the auction, set to commence on July 26, 2022.
