Mobile phone auction could raise £60bn


THE government of Indian prime minister Narendra Modi last Wednesday (22) approved a mega auction of mobile phone radio waves, hoping to scoop about $85 billion (£63.6bn) from the sale of licences in the world’s second-largest market. The new mobile radio wave spectrum on auction are seen as crucial for companies competing in the lucrative but cut-throat Indian market of a billion mobile subscribers. “This may be the largest ever auction in the history of the country,” said finance minister Arun Jaitley. More than 2,300mhz of spectrum would be available for auction across seven bandwidths and based on their reserve…

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