Adani group is not interest in telecom services business, only 5G spectrum auction
Adani Group announced they were entering the 5G spectrum auction race to provide a private network for airports and its ports business but were not interested in telecom services.
Reports suggested on Saturday that the ports to coal, energy distribution to aviation conglomerate was joining the bidding for the 5G spectrum auction as it looks to foray into the telecom race.
But Adani group, in a media note, said, “we have received a lot of inquiries about our interest in the 5G space. Our intention is not to be in the consumer mobility space.”
As India prepares to roll out the next generation 5G services and has invited applications for the spectrum’s auction, reports suggest Jio, Airtel and Vodafone Idea — the three major private players in the telecom sector — have applied.
Reports suggested that the ports to energy firm’s surprise decision to join that bidding race would pitch Gautam Adani’s group directly against Mukesh Ambani’s Reliance Jio and telecom czar Sunil Bharti Mittal’s Airtel.
But Adani Group said it would join the 5G spectrum auction race to provide private network solutions along with enhanced cyber security for its airport, ports and logistics, power generation, transmission, distribution, and various manufacturing operations of its current businesses.
See the media statement embedded below:
The Telecom Regulatory Authority of India’s recommended reserve prices for 5G auctions were approved by the cabinet last month (TRAI). The regulator had suggested a reduction in the floor price of the 5G spectrum for mobile services of nearly 40 per cent.
The 20-year duration of the right to use the spectrum has been extended, and generally, the payment terms for participants in the next auction have been lowered. The winning bidders are not required to make an upfront payment for the first time ever.
The auction will be held for spectrum in various low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), mid (3300 MHz) and high (26 GHz) frequency bands.
As per the government’s auction timelines, ownership details of applicants would be published on July 12, and the bidders should be known then. A total of 72,097.85 MHz 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.
For all the latest business News Click Here
