Indian conglomerate Reliance Industries is planning to bid in the country’s tender for 2G mobile licences in November.
Reliance Industries, controlled by billionaire Mukesh Ambani, was one of a number of participants at a meeting to discuss the…
Indian conglomerate Reliance Industries is planning to bid in the country’s tender for 2G mobile licences in November.
Reliance Industries, controlled by billionaire Mukesh Ambani, was one of a number of participants at a meeting to discuss the auction in New Delhi, reported Bloomberg citing a source.
India’s Department of Telecommunications is re-auctioning 122 2G licences which were first sold in 2008. A corruption probe had found that the licences were auctioned too cheaply in a scandal that saw the country’s former telecoms minister jailed.
The Supreme Court has ruled that the spectrum must be allocated by 11 January 2013, and the tender is set for 12 November.
Until 2005 Reliance Industries was part of the Reliance Group, parent of telco Reliance Communications, but a falling out between brothers Mukesh and Anil Ambani led to their mother brokering a deal to break up the group.
As part of that deal, Anil took control of their Reliance Communications, and the brothers signed a non-competition act so that Mukesh could not participate in telecoms until 2010.
Reliance Industries acquired Infotel, a 4G wireless broadband firm, for US$896m in 2010.
Infotel was acquired directly after a spectrum auction where it was the only company to have secured a pan-Indian Broadband Wireless Access (BWA) licence.
It has yet to launch 4G services but is reportedly in talks with towercos such as BSNL and Reliance Communications to do so by the end of the year.
