Adani Group not interested in telecom service business, only auctioning 5G spectrum
Adani Group announced that it is entering the race for 5G spectrum auction to provide a private network for airports and its port businesses, but has no interest in telecom services.
Reports on Saturday suggested that the port for coal, energy delivery to the aviation conglomerate is joining the bid for 5G spectrum auction as it seeks to enter the race for telecom.
But the Adani Group said in a media note, “We have received a lot of inquiries regarding our interest in the 5G space. We do not intend to be in the consumer mobility space.”
As India prepares to launch next-generation 5G services and invite applications for spectrum auctions, reports suggest Jio, Airtel and Vodafone Idea – the three major private players in the telecom sector – applied Is.
Reports suggested that the energy firm’s surprise decision to pitch ports to join that bidding race would be Gautam Adani’s group directly against Mukesh Ambani’s Reliance Jio and telecom giant Sunil Bharti Mittal’s Airtel,
But Adani Group said it will auction 5G spectrum to provide private network solutions along with enhanced cyber security for its airports, ports and logistics, power generation, transmission, distribution and various manufacturing operations of its existing businesses. will participate in the race.
See the embedded media statement 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 of around 40 per cent in the minimum price of 5G spectrum for mobile services.
The 20-year period for the right to use spectrum has been extended, and generally, the payment terms for participants in the next auction have been reduced. The winning bidders are not required to make an advance payment for the first time.
The auction will be conducted 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.
By the government’s auction deadline, the applicants’ ownership details will be published on July 12, and bidders should know by then. 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 beginning July 26, 2022.