$Adani Enterprises Ltd #Telecom #5G #Spectrum

Billionaire Gautam Adani's group is said to be planning a surprise entry into the race to acquire telecom spectrum, which will pitch it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel, sources said. Applications for participating in the July 26 auction of airwaves, including those capable of providing fifth-generation or 5G telecom services such as ultra-high-speed internet connectivity, closed on Friday with at least four applications.

Jio, Airtel and Vodafone Idea — the three private players in the telecom sector — applied, three sources with knowledge of the matter said. The fourth applicant is Adani Group, one of the sources said, adding that the group had recently obtained National Long Distance (NLD) and International Long Distance (ILD) licences.

Source - CNBC TV18