The auction of 5G spectrum to provide fast internet service in the country has received bids worth around Rs 1,49,855 crore for the fourth day on Friday. The bidding process has been extended till Saturday due to continued interest in radio waves.
5G spectrum auction is on.
fast paced country Internet The auction of 5G spectrum for the service has received bids of about Rs 1,49,855 crore on the fourth day on Friday. The bidding process has been extended till Saturday due to continued interest in radio waves. Union Telecom Minister Ashwini Vaishnav said that about 71 per cent of the total spectrum put on auction has been temporarily sold. He said it was a very good response.
23 rounds of bidding completed
Seven rounds of bidding were held on Friday for spectrum. During this, additional bids worth Rs 231.6 crore have been received. A total of 23 rounds of bidding have been done so far.
Mukesh Ambani’s Reliance Jio, Sunil Bharti Mittal’s Bharti Airtel, Vodafone Idea and a unit of Gautam Adani’s flagship company Adani Enterprises are in the race for 5G spectrum. On Tuesday, the first day of bidding, a bid of Rs 1.45 lakh crore was made in four rounds of auction. Bids for spectrum continued on Friday with Jio and Airtel aggressively bidding for the 1800 MHz band in the Uttar Pradesh (UP) eastern circle.
How much is the value in the auction?
A total of 72 GHz radio waves worth at least Rs 4.3 lakh crore have been placed under the bidding. By the end of Thursday, bids worth Rs 1,49,623 crore had been received. The auction is being conducted for spectrum in various low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz), medium (3,300 MHz) and high (26 GHz) frequency bands.
Meanwhile, sources said the Telecom Minister will hold a meeting with private equity funds, venture capital, investors and banks in Mumbai on Saturday. In this meeting, along with understanding their views and concerns, the development of the telecom sector will be discussed. Sources said the move comes at a time when the government is in the process of preparing a new legal framework for the sector.
Let us tell you that due to the arrival of 5G services, the speed of internet will be about 10 times higher than that of 4G. In this, the speed of the internet will be such that a movie can be downloaded on mobile in just a few seconds.
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