By Devidutta Tripathy NEW DELHI (Reuters) – Indian mobile phone market leaders Bharti Airtel and Vodafone bought airwaves worth about $3 billion each in a hotly contested auction that raised nearly $10 billion, far exceeding the governments target. No.1 Bharti and second-ranked Vodafone said they had won airwaves in the premium 900 megahertz band that was available in three key cities — Delhi, Mumbai and Kolkata. Conglomerate Reliance Industries, a new entrant in telecoms that is seen as a threat to the incumbents, bought airwaves in another band in 14 locations the government said, estimated to have cost it $1.7 billion. The market leaders heavy spending on airwaves underscores the fierce competition and their bet on mobile data in the worlds second biggest mobile phone market behind China.
Vodafone, Bharti spend big to win airwaves in $10 billion Indian auction
14
Feb
2014
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