Adani Entry into telecom spectrum race, New Adani 5G Company
According to TOI, Adani Group confirmed its entry into the telecom spectrum race which means Adani will bid to acquire the 5G spectrum.
Now, there are many rumors going all around the world that Adani starting a new telecommunication company to challenge India's largest telecom company Reliance Jio. But it is not true!
Adani will bid to buy 5G spectrum but not to compete with Jio instead to support his businesses from airports to power as well as data centers.
Hence, Adani is not starting a telecom company, it is not more than a rumor.
Although, Mukesh Ambani's company Reliance Jio and other companies also take part in this auction.
On Saturday, the Adani group said in a statement that as India is ready to roll out the future generations 5G spectrum auction, the Adani group is one of many participants taking part in this auction.
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