Asia’s richest man Gautam Adani can start a new venture soon. If everything goes according to plan, then in the coming days, Mukesh Ambani’s Jio (Mukesh Ambani Reliance Jio) and Sunil Bharti Mittal’s Airtel (Sunil Bharti Mittal Airtel) are going to get a tough competition.
Adani wants telecom spectrum
According to the news of PTI, Adani Group of billionaire industrialist Gautam Adani may join the race to acquire telecom spectrum. According to sources, the company has started its planning. The government had invited applications from companies for the auction of 5G spectrum, the last date for submission of which was July 8. The government has received 4 applications for this.
4 applications for spectrum
Sources familiar with the matter say that three private telecom companies Jio, Airtel and Vodafone Idea have applied for the spectrum auction to be held on July 26. While the fourth company to file the application is Adani Group. The company has recently acquired National Long Distance (NLD) and International Long Distance (ILD) licenses.
However, Adani Group did not respond to e-mails or phone calls regarding this and this could not be confirmed.
5G spectrum to be auctioned
According to the timeline set by the government for the auction of 5G spectrum, the information of those who applied on July 12 will be made public on July 12. The government is going to auction a total of 72,097.85 MHz spectrum. Its value is around Rs 4.3 lakh crore. Under this auction 600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz and 3300 MHz in the mid frequency band and 26 GHz spectrum in the high frequency band are to be auctioned under this auction.
Ambani-Adani will compete?
Mukesh Ambani and Gautam Adani, both industrialists come from Gujarat. Till now both the groups have been working in different sectors and there is no direct competition between them. Mukesh Ambani’s Reliance Group works in the oil, refinery and petrochemicals to telecom and retail sectors, while the Adani Group is in the ports, coal, green energy, power distribution and aviation sectors. But in recent times, where Adani Group has entered the petrochemical sector, Reliance Group has also entered the green energy sector. Now the entry of Adani Group in the telecom sector is the first direct competition between the two.