Reliance’s $11 Billion Bid Wins Lion’s Share of 5G Spectrum in India Auction

NEW DELHI—Reliance Group emerged as the most important purchaser within the Indian authorities’s first public sale of 5G spectrum, providing about $11 billion over 20 years for the rights to airwaves because it seeks to cement its main place on the planet’s second-biggest wi-fi market with a fast rollout of the expertise.

The acquisition by Reliance Jio Infocomm Ltd. of 24,740 megahertz of airwaves throughout a number of bands represented greater than half the $19 billion of commitments acquired by the federal government after every week of bidding that ended late Monday. India is looking for to shut the hole with different international locations—together with China and South Korea—which have already put in 5G, which is way quicker than the current networks and seen as key to a brand new period of digitally related industries.