Reliance Industries is likely to bid for mobile telephone spectrum in the upcoming auction to complement its wireless broadband services with voice call facility.
The oil-to-textile group headed by billionaire Mukesh Ambani is making a re-entry into the telecommunication business and is being talked as the most aggressive bidder in the November auction of telecom spectrum.
Sitting on a cash-pile of Rs 70,732 crore at the end of the June quarter, RIL was the most notable participant at the pre-bid conference organised by the Department of Telecom (DoT) in the run-up to the auction.
RIL is most likely to put a direct bid, a source privy to the development said. If for some reasons it is unable to make a bid by itself, the company may fund purchase of spectrum by another company and then acquire it.
A company spokesperson declined to comment on speculation about the issue.
The company had in 2010 re-entered the telecom space after it acquired Infotel Broadband which had won pan-India spectrum for offering high-speed internet broadband.
Read More . . . .
The oil-to-textile group headed by billionaire Mukesh Ambani is making a re-entry into the telecommunication business and is being talked as the most aggressive bidder in the November auction of telecom spectrum.
Sitting on a cash-pile of Rs 70,732 crore at the end of the June quarter, RIL was the most notable participant at the pre-bid conference organised by the Department of Telecom (DoT) in the run-up to the auction.
RIL is most likely to put a direct bid, a source privy to the development said. If for some reasons it is unable to make a bid by itself, the company may fund purchase of spectrum by another company and then acquire it.
A company spokesperson declined to comment on speculation about the issue.
The company had in 2010 re-entered the telecom space after it acquired Infotel Broadband which had won pan-India spectrum for offering high-speed internet broadband.
Read More . . . .