Mobile-Tower-Acutions

Spectrum War: Reliance Jio Puts In The Maximum Earnest Money Deposit Of Rs 4,500 Crore

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Reliance Jio has submitted Rs 4,500 crore as its earnest money deposit (EMD) for the spectrum auction, the highest among telecom operators, signaling an aggressive play at next month’s sale and spicing up a contest in which Vodafone, Idea and Reliance Communications face a battle for survival in some circles.

Bharti Airtel, India’s top operator, has deposited Rs 4,336 crore as its EMD, considered an indicator of bidding interest, followed by Idea Cellular with Rs 4,000 crore and Vodafone at Rs 3,700 crore. Tata Teleservices made an unexpectedly strong pitch, submitting Rs 1,500.05 crore, higher than the likes of Reliance Communications (RCom), Uninor and Aircel.  Original post at ET Telecom

Wahengbam Rorrkychand

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Website: http://www.blog.tonsetelecom.com

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