Telecoms giant Vodafone says its Indian subsidiary has been awarded spectrum licences in 14 mobile phone service areas in the Indian government's 1800 megahertz (MHz) spectrum auction.
Vodafone India bid successfully for 2.5MHz of spectrum in Madhya Pradesh, Uttar Pradesh West, Haryana, Orissa, North East, Bihar, Jammu & Kashmir, Assam and West Bengal, while bids for 1.25MHz licences in Punjab, Himachal Pradesh, Uttar Pradesh East, Maharashtra and Kerala were also successful.
In all, Vodafone's total bid in the auction was £138m. The spectrum secured is available for use immediately, and will extend the firm's reach across the country, including in rural areas.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Participation in the auction marks Vodafone's return to expansion of its 2G network, as it had not received new 2G spectrum since 2008. Since then, Vodafone's customer base in India has grown from 60m to over 150m.
JH
-
Divorced? Simple rules to stop your ex claiming inheritance on your estateDivorces are back at pre-pandemic levels leaving lawyers urging separated couples to get their affairs watertight to avoid any nasty disputes after death
-
Is now a good time to invest in Europe?European stocks are undervalued, but experts believe that defence and infrastructure spending could see renewed growth
